2nd Feb 2015 10:10
LONDON (Alliance News) - Amino Technologies PLC said Monday it expects to see growth in profit and revenue for its current year, as it posted a slight decline in pretax profit for its recently ended financial year due to exceptional gains not recurring.
The digital entertainment company proposed a full year dividend of 5.0 pence, up 31% from 3.45 pence a year before. It reiterated its intention to grow its dividend by no less than 10% per year, notwithstanding this "significant" increase.
For the year to end-November 2014 the company posted a pretax profit of GBP4.0 million, down from GBP4.3 million a year before, as revenue rose to GBP36.2 million from GBP35.9 million, mostly as a result of exceptional income from a duties refund in the previous year.
Stripping out exceptional costs the company posted a pretax profit of GBP4.2 million, up from GBP3.4 million a year before.
The company also said it had recently received a favourable ruling on a duty rebate, which will lead to a GBP700,000 exceptional gain in its current year.
Revenue growth in the recently completed year was driven by a strong performance in North America, with sales rising 14% in the region, and with demand for lower cost, lower functionality products in emerging markets in Eastern Europe and Latin America. This offset a decline in Western Europe, particularly in the Netherlands.
"The investments we have made into the new product portfolio will contribute to the anticipated full-year revenue growth in 2015," said Non-Executive Chairman Keith Todd in a statement. "In addition to our actions to drive the group's financial performance, we have materially increased dividends and continue to review acquisition opportunities in the market. We are pleased to say the outlook for 2015 is positive."
Shares in Amino are trading down 0.9% at 125.90 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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