Amino declares record profits

January 27, 2014 08.55 Europe/London By Julian Clover

Cambridge-based tech firm Amino Communications has declared a record £4.1 million profit.

The IPTV and OTT specialist added 46% to its 2012 figures as demand for the company’s higher margin profits soared. In line with earlier guidance revenues fell, with an erosion of interest in low end items, though Amino said it was gaining traction in Latin America and Central & East Europe.

Commenting on the results, Keith Todd CBE, Non-Executive Chairman, said: “Amino has seen continued success in 2013 and has delivered growth in profits and cash whilst meeting the diverse needs of its global customer base. Due to the continued focus on margin enhancement and cash generation, I am pleased that we have been able to increase our improved final dividend.

“Looking further out, we are making significant progress with a number of new product initiatives which will expand our addressable market. The Board remains confident in the outlook for the Group’s profitability and cash generation in the year ahead and the positive impact on revenues of the new enhanced offering from 2015.”

Among those new initiatives is an entrance into the growing home automation market.