TUNED INTO AMINO 4 December 2014
Shares in Swavesey based Amino Technologies have jumped 9p this morning to £1.26p, as investors warmed to an upbeat Trading Update delivered to the market.
The IPTV focused company announced that revenue growth in the second half of its financial year has set it up for a pre-tax profit ahead of previous guidance.
The statement comes soon after a previous positive update to the market and confirms that trading has continued to be strong in the closing period.
New contracts within N. America, Eastern Europe and the Middle East have been instrumental in the positive performance underpinning a return to growth and a maintaining of strong margins.
Looking ahead, the mood also appears upbeat, with the company’s tendering activity in both existing and new territory’s being strong and supported by a well received new product portfolio.
Cash generation also remains extremely impressive with a closing year balance of £20.8m accounting for 40 per share after both share buy backs and dividend payments are taken into account.
Three Brokers are positive on the stock with N+1 Singer forecasting a 2015 net cash figure of £23.6m and is revising profit forecasts, while both FinnCap and Progressive are estimating pre-tax profits to rise by 13% to £4.4m.
The shares have enjoyed a great run since I last took a look in October at 79p, but could have much further to go with the revised expectations and renewed optimism on growth.