Date: Tuesday 04 Dec 2012
LONDON (ShareCast) - Amino Technologies has shot up on news it will hit full-year results and is to introduce a progressive dividend policy, starting with a 3p full year dividend.
In a trading update for the full year ended November 30th, the set-top box maker said it would deliver “a profit for the year in line with market expectations” following a focus on operational performance and improvements in gross margins.
Revenues, however, are expected to be below consensus at about £41m.
Consensus estimates for the full year had previously been for pre-tax profits of £2.72m on turnover of £44.71m.
Amino Technologies said that cash conversion for the period had been strong with an improved net cash balance of £17.1m (2011: £14.1m) even after a £1.0m dividend payment.
As part of its focus on operational performance it plans to concentrate R&D at its Cambridge headquarters and will close its Swedish office early in 2013. A move it said would deliver “net cost savings as well as productivity improvements”.
The company also said it will be introducing a progressive dividend policy, starting with a 3p full year dividend, 50% up year on year. Not only will it introduce an interim dividend but the company plans to grow its dividend by “no less than 15% per annum for each of the next two years”.
Broker Northland Capital reiterated its ‘buy’ recommendation with a price target of 75p.
It commented: “Management has focused on gross profit/margin progression and cash generation to support a progressive dividend policy. Business remains very well capitalised and offers good exposure to a dynamic sector.”
Amino Technologes will announce its full year results on Monday, January 28th 2013.
The shares were up approximately 15% to 65.75p by 12.00.
CM
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Currency | UK Pounds |
Share Price | 7.38p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 39.00 |
52 Week Low | 7.25 |
Volume | 19,989 |
Shares Issued | 111.21m |
Market Cap | £8.20m |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Interim | Final | |
Ex-Div | 01-Sep-22 | 07-Apr-22 |
Paid | 26-Sep-22 | 22-Apr-22 |
Amount | 1.00p | 2.09p |
Time | Volume / Share Price |
14:00 | 3,539 @ 7.65p |
14:00 | 3,539 @ 7.65p |
11:28 | 2,896 @ 7.28p |
09:55 | 1,654 @ 7.28p |
09:41 | 4,793 @ 7.28p |
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