Amino Technologies shares rallied on Thursday after the company posted a trading update on the six months to end of May.
The technology solutions specialist said that revenues for the first half of 2019 expected to be approximately $35 million.
Net cash at the end of May totalled $19.3 million, which the firm said reflected strong margins and cash conversion.
In addition, the company said it completed a cost-saving programme in April, with savings of $5 million. As a result, the board said expectations for the full-year remain unchanged.
Donald McGarva, Amino Chief Executive Officer, commented:
“We have made good progress on our new strategic focus, which is intended to support a more resilient business model, improved operating margins and recurring revenue in the medium term. The first half of 2019 has provided further evidence that Amino offers pay TV operators the ability to deliver cost effective modern TV experiences.”
Amino Technologies provides hybrid TV and cloud services to companies such as T Mobile, Vodafone and Hickory Tech.
Back in February, shares fell after the company posted a disappointing set of results for the year, with revenue falling 7%.
At the time of the results, the group blamed ‘unprecedented macro-economic headwinds’ for the decline.
Shares in the London-listed firm (LON:AMO) are currently trading +9.68% as of 14:45PM (GMT).
