Amino operating profit up but revenues slide

Set-top box provider Amino Technologies has posted an increased year-end operating profit of £4.1 million (€4.9 million), up 46% year-on-year, on reduced revenue of £35.9 million.

Amino’s operating profit before exceptional items for the year ending November 30 was £3.3 million, up 17%.

Amino’s revenue for the year was meanwhile down 14% year on year, reflecting continued demand for lower specification products and a reduced level of demand from one Dutch customer.

Amino said it is seeing “good traction” for lower end products from emerging markets including eastern Europe and Latin America, while it is also developing enhanced home automation solutions to extend its addressable market.

“Amino has seen continued success in 2013 and has delivered growth in profits and cash whilst meeting the diverse needs of its global customer base. Due to the continued focus on margin enhancement and cash generation, I am pleased that we have been able to increase our improved final dividend,” said Keith Todd, non-executive chairman. “Looking further out, we are making significant progress with a number of new product initiatives which will expand our addressable market.  The Board remains confident in the outlook for the Group’s profitability and cash generation in the year ahead and the positive impact on revenues of the new enhanced offering from 2015.”