Amino Technologies displays 'improved resilience' during Covid-19 pandemic

Entertainment technology provider Amino Technologies said on Monday that its transformation into a software-led business had offered the group "improved resilience" during the Covid-19 pandemic.

While Amino noted it had experienced challenges in its supply chain and delayed orders, the firm said it had also seen increased viewing on its streaming platforms throughout the outbreak.

The AIM-listed group stated it was "well-diversified" and that it had continued to secure new business, particularly in over-the-top streaming.

Amino also highlighted that it had "good visibility" of orders and a sales pipeline which was expected to help the firm meet revenue expectations for the financial year. First-half sales were expected to be roughly $38.1m - up from the $34.6 brought in a year earlier.

Nonetheless, Amino cautioned that it was "still too early to quantify the potential negative impact" of the Covid-19 pandemic and stated that its full-year outcome remained "uncertain".

Chief executive Donald McGarva said: "Our transformation to a software-led business positions us strongly to drive long-term profitable growth, and manage the challenges presented by Covid-19 in the short-term.

"Whilst we are seeing challenges arising from Covid-19, the underlying strength of our business model and strategy support our confidence for further progress going forward."

As of 0900 BST, Amino shares were up 4.04% at 146.70p.