Amino Technologies confident in expectations after 40% increase in orders

Internet protocol solutions provider Amino Technologies on Tuesday said full-year expectations were confirmed after the first half saw a 40% year-on-year increase in orders.

The AIM-traded company’s unaudited results for the six months to 31 May showed 75% of expected full-year revenues have been secured while a good sales pipeline is in place for the remainder of the year.

Keith Todd, non-executive chairman, said: "The board remains confident in full year expectations. We are pleased to recommend a 10% increase in the half year dividend, in line with our progressive dividend policy."

Compared to the same period last year, the results showed a 17% fall in revenues to $41.2m and a 58% drop in adjusted profit before tax to $3.8m.

However, a statement from Amino said the company’s board was unconcerned as the drops were due to order phasing by a major customer and greater second-half weighting as normal seasonality returns.

"It is encouraging to report material progress in delivering our three long-term strategic growth drivers - IP/Cloud TV Everywhere, Operator Ready Android TV and Upcycling Legacy devices to next generation TV experiences," said Todd.

TV Everywhere services have been deployed by Netherlands-based operator DELTA, while the company has already secured North American orders for Android TV and said it has a “solid pipeline of opportunities” in place for the Upcycling Legacy offering.

Amino Technologies’ shares were down 3.18% at 197.02p at 0903 BST, .