By Iain Gilbert
Date: Thursday 06 Jun 2019
LONDON (ShareCast) - (Sharecast News) - Media and entertainment solutions outfit Amino Technologies told investors on Thursday it had made "good progress" with its transformation programme, which it expects to deliver annualised cost savings of $5m.
Amino said its transformation programme, announced in February and completed in April, had supported an acceleration of its focus on value-added software, services and hardware.
However, the AIM-listed group also revealed that first half revenues were expected to be approximately 15% lower year-on-year at $35m.
As a result of the implementation of its transformation programme and despite the thinner revenues, Amino kept expectations for its full-year unchanged.
Net cash as of 31 May came to $19.3m, up from the $15m recorded a year earlier, reflecting continued strong margins and cash conversion.
Chief executive Donald McGarva said: "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."
As of 0835 BST, Amino shares had picked up 2.70% to 95p.
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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 | 6.10 |
Volume | 40,202 |
Shares Issued | 111.21m |
Market Cap | £8.20m |
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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 |
15:01 | 6,236 @ 6.10p |
11:01 | 3,278 @ 7.28p |
11:00 | 688 @ 7.50p |
11:00 | 626 @ 7.50p |
11:00 | 62 @ 7.50p |
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