Set-top provider Amino Technologies has posted improved full-year EBITDA and operating profits despite a downturn in revenues.
The company posted EBITDA of £6.2 million (€7.25 million), up from £4.4 million in 2011, with an operating profit of £2.8 million, up from a loss of £0.6 million. Underlying revenue fell by 6.1% to £41.7 million, which Amino said reflected a continued focus on profitability.
“Amino has performed strongly in 2012, and we have seen significant increases in both profit and cash flow, alongside material improvements in its operational execution. This has allowed us to sharply increase shareholder returns,” said non-executive chairman Keith Todd. “Moving into 2013, we will continue to target growth which is both high margin and cash flow generative, leveraging off a simplified supply chain and more targeted product range. Whilst exercising a suitable degree of caution, we are well positioned to meet its expectations for the financial year ahead.”