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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