LONDON (ShareCast) - (ShareCast News) - Shares in Amino Technologies rose over 8% early on Tuesday, after the group reported a hike in first half profits.
In the six months to 31 May revenue grew 9% year-on-year to £17.9m, while gross profit jumped 23% to £9.1m and gross margin rose 5.9 percentage points to 50.8%.

The group said earnings before interest, tax, depreciation and amortisation surged 34% year-on-year to £3.9m, while adjusted operating earnings before exceptional items rose 56% to £2.8m.

"Thanks to a clear and well thought-out strategy, our business has reignited its organic revenue growth, extended its margins and profitability," said the group's non-executive chairman Keith Todd.

Meanwhile, the London-listed group added that it has agreed a deal to acquire video service delivery group for $73m (£46.9m), which will comprise an initial payment of $65m in cash to be funded via existing cash facilities, a revolving $8m credit facility and a placing to raise approximately $21m.

The remaining $8m will be paid in cash to Entone management only, Amino said.

"The proposed acquisition of Entone takes that credibility one step further still, not only adding excellent product and people to our offering, but transforming the scale of our business too," said Todd.

Amino shares were up 8.45% to 150.75p at 0953 BST.

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