17th May 2018 11:10
LONDON (Alliance News) - Surveillance system provider IndigoVision PLC said at its annual general meeting it expects to break even in 2018, following double digit growth in the first four months of the year.
For 2017, IndigoVision reported a pretax loss of USD2.8 million, sinking from a profit of USD59,000 in 2016, on revenue that dipped to USD42 million from USD45.9 million the year before.
In addition, the group said it expects sales to be weighted more towards the second half of the year.
"Following the launch of its award winning CyberVigilant product last year, IndigoVision's patent pending technology can now be deployed within much of the company's range of cameras, providing a cost effective tool for monitoring cyber attacks at the edge of a customer's video surveillance network," IndigoVision said in a statement.
"The company also launched the Integra all-in-one device, combining video storage and its Control Center video management software in a single piece of hardware. The Integra device is expected to drive new revenue from the SME market in the latter part of the year."
Shares in IndigoVision were up 3.1% at 116.00 pence on Thursday.
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