Lower margins hit IndigoVision profits
The Edinburgh-based firm posted a pre-tax profit of £952,000 for the six months to 31 January, down from £1.3 million a year earlier, although revenues grew 11 per cent to a record £16.1m, with the growth accelerating to 15 per cent in the second quarter.
Chief executive Marcus Kneen said: “We set ourselves the task of returning the business to better rates of growth, and accelerating sales indicate that we are on target to achieve that.
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Hide Ad“We currently expect record sales for the year as a whole. Notwithstanding lower margins and the additional spend on sales and new product development, we also currently expect the operating outcome for the year as a whole to better last year’s strong result.”
IndigoVision said shareholders will receive an interim dividend of 5.5p a share, up 10 per cent on last year.