15th Feb 2016 09:42
LONDON (Alliance News) - Over-the-internet broadcasting technology company Amino Technologies PLC on Monday said its pretax profit dipped in the year to the end of November due to exceptional costs, but said its revenue increased and hiked its dividend while its chief financial officer resigned.
The company said its pretax profit for the year to November 30 fell to GBP300,000 from GBP4.0 million a year earlier, due to the group booking one-off costs related to restructuring activity and acquisitions made in the year, including of broadcast television and connected home services provider Entone Inc and Finnish cloud platform provider Booxmedia Oy.
Revenue, however, rose to GBP41.7 million from GBP36.2 million, driven by the acquisitions and a good performance in the North American market. The company also performed well in Western Europe, but was hit by a sharp drop in sales in eastern Europe, due to challenging conditions in some markets and the consolidation of a key customer in Serbia.
Amino said it would pay a dividend of 5.5 pence for the year, up 10% and in line with its dividend policy.
"Looking ahead to 2016, we believe that Amino is well positioned thanks to our IP pedigree, enhanced product offering, geographical reach and refocussed sales teams. The market dynamics for "anytime anywhere" entertainment and home services continues to move towards our core competence of IP delivery. This will benefit us now and in the longer term," said Keith Todd, Amino's chairman.
In a separate statement on Monday, Amino said Chief Financial Officer Julia Hubbard has resigned from the company with immediate effect. The search for a replacement has started, Amino said, and Julian Sanders will remain interim CFO, having taken on the role when Hubbard stepped down to take a leave of absence in December 2015.
Shares in Amino were down 1.7% to 112.08p on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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