29 Dec 2015 07:00
29 December 2015
IndigoVision Group PLC ("IndigoVision" or the "Group")
Trading Update for the 12 months ending 31 December 2015
As expected, IndigoVision returned to profit for the second half of 2015. Operating profits for the six months to 31 December are expected to exceed $0.5m after a first half operating loss of $1.3m.
The year on year sales decline of 29% reported for the first half slowed, and is expected to be approximately 18% in the second half. Sales in the second half were lower than anticipated, principally due to a delay to a project in the Middle East. The action taken in the first half in relation to operating costs meant that operating profitability was restored in the second half notwithstanding lower sales. Focused working capital management is expected to result in net cash balances exceeding $2m at 31 December 2015, a material improvement over the net debt of $0.5m reported at the half year end.
The full year results for the year to 31 December 2015 are expected to be announced on 3 March.
For further information please contact:
IndigoVision Group plc | |
Marcus Kneen (CEO) | |
Holly McComb (CFO) | +44 (0)131 475 7200 |
N+1 Singer - Nominated Advisor | |
Sandy Fraser | +44 (0)207 496 3176 |
Notes to Editors
About IndigoVision
IndigoVision's business is security.
We are a leader in the design and manufacture of high performance, highly-intelligent video security systems for large scale and complex security installations. From video capture and transmission to analysis and storage, our networked video security systems provide the best quality and most secure video evidence, using market leading compression technology to minimise bandwidth and reduce storage costs.
We are reliable.
IndigoVision's unique Distributed Network Architecture removes the need for a central server. So there is greater resilience, no single point of failure, reduced latency and no network bottlenecks.
We are secure but scalable.
IndigoVision's system is end-to-end, a complete video/audio security solution from camera to controller, so it is both remarkably secure and remarkably stable. We offer all the reliability and compatibility benefits of a closed system, but our hardware and management software are open. Our customers are able to integrate their cameras and security systems, making migration and expansion easy.
We keep important places safe.
IndigoVision's technology is ideally suited for mission critical facilities - airports, casinos, cities, banks, police, government, oil and gas, transport, cities, education and industry. We protect assets, improve operational efficiency, and support law enforcement.
We support our customers.
Sales and support teams operate in 23 countries and 18 regional centres: in Edinburgh, London, Paris, Amsterdam, Dusseldorf, Johannesburg, Dubai, Mumbai, Singapore, Macau, Shanghai, Sydney, Mexico City, Toronto, Bogotá, New Jersey, Buenos Aires and Sao Paulo. We partner with a network of 840 authorised IndigoVision resellers, who we train. They provide local system design, installation, and servicing to system users.
At IndigoVision we know how to keep people and property safe. Safe is a wonderful feeling.