Amino Technologies Plc (LON:AMO) hike their dividend by 10%, despite a drop in on-year sales.
Amino’s first half revenue fell 17% on-year for the first half, from $49.8 million to $41.2 million. This plays out as a pre-tax profit decrease from $9 to $3.8 million, though these figures are in line with expectations.
“In line with previous guidance, H1 revenues lower than last year due to order phasing by one major customer, and greater second-half weighting as normal seasonality returns,” said an Amino Technologies spokesperson.
“With more than 75% of expected full year revenues secured, and good visibility provided by our order backlog and pipeline, the Board remains confident in full year expectations,” said Keith Todd CBE, Non-Executive Chairman.
Indeed, the firm are not only unshaken by the disappointing first half figures but appear bullish entering the second half, as they prepare to implement their three-step strategy. The AIM-listed set-top box maker intends to more widely distribute IP/Cloud TVs, such as Operator Ready Android models. They then intend to up-cycle their ‘legacy’ devices to next-generation models and enable 24/7 IP delivery on any device.
Analysts from Liberum compound this optimistic view, dubbing Amino as a firm reaching an inflection point. They stand in good stead to turn around poor first half revenue by capturing a “major strategic opportunity” – clients looking to play catch-up on market developments will look to specialists such as Amino to provide “the most cost-effective way to launch anywhere, anytime, any device TV”.
Amino shares are currently trading at 197.36p, down 6.14p or 3.02% since markets opened this morning. Analysts from finnCap have reiterated their ‘Corporate’ stance on Amino Technologies stock, while Liberum Capital have initiated a ‘Buy’ stance.
