Amino has reported a solid European performance as operators prepare to transition to 4K services.
The Cambridge-based set-top and technology provider has renewed its contract with Vodafone Netherlands, which it says demonstrates its ability to retain and grow key customer accounts. Cloud TV services, based on an Amino platform were launched in May by Dutch operator Delta.
Earlier this year, Amino completed the integration of 2015 integrations Booxmedia and Entone.
“This has been an encouraging first half performance by Amino. Following the acquisitions in 2015, Amino has developed and launched an enhanced product offering, including a new 4K UHD device range, and it is pleasing to see the positive traction gained in our markets. Revenue and profit before tax and exceptional items are in line with our expectations and the closing cash position is ahead of expectations. We look forward to the second half of the year with confidence,” said chairman Keith Todd.
The company reported revenues of £33 million, an increase of £15.1 million year-on-year. Pre-tax profits of £4.2 million were dragged down by exceptional items of £3.5m and amortisation of acquired intangibles of £1.1 million, leading to a £500,000 loss.
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