UK-based set-top provider Amino Technologies has seen solid EBITDA and profit growth on the back of a modest increase in revenue for the financial year ending November 30.
Amino said it expects continued revenue growth this year on the back of a significant expansion of its product offering and strong revenue growth in North America, Latin America and eastern Europe. Highlights included a new contract with Albania’s ALBTelecom and a contract to supply its A150 box to an existing Latin American customer. While western Europe remained challenging, the company did secure two contracts in the Netherlands for its A150 and flash USB pause live-TV solution respectively.
Amino grew revenue in line with expectations to £36.2 million (£48.3 million), up from £35.9 million, with margin up one percentage point to 46.3%. EBITDA grew by 11% to £6.7 million and pre-tax profit grew by 23% to £4.2 million.
“2014 was an important year for Amino where we have turned the corner and moved into a period where we can anticipate top line growth in addition to profit growth,” said non-executive chairman Keith Todd.
“Our discipline on cost control and gross margin enabled the Company to end the year with a record profit and net cash position. The investments we have made into the new product portfolio will contribute to the anticipated full year revenue growth in 2015. In addition to our actions to drive the Group’s financial performance, we have materially increased dividends and continue to review acquisition opportunities in the market. We are pleased to say the outlook for 2015 is positive.”