26th Sep 2013 08:30
LONDON (Alliance News) - IndigoVision Group PLC, a video surveillance manufacturer, Thursday reported increases in revenue and slight decreases in pretax profit as it upped its overall and sales team headcount.
The company maintained its final dividend at 5.5 pence, which when combined with its interim dividend, comes to 11.0 pence, an increase of 10% from 10.0 pence in the previous year.
For the half-year ending July 31 the company posted revenues of GBP32.0 million, up from GBP30.3 million in the previous year. The company had a pretax profit of GBP2.1million, decreased from GBP2.4 million the previous year. Sales headcount was increased 30 % at the end of last year, which the company said was designed to increase future revenue growth, this led to a 2% rise in administration expenses.
Revenues grew 33% in Latin America and 12% in Asia Pacific, although the company saw declines in Europe, the Middle East and Africa as well as slight declines in North America.
IndigoVision said that benefits from the substantial increase in its sales team headcount were not expected to show in revenues until the latter half of 2013.
The company changed its financial year-end from July 31 to December 31, and said that moving to a more conventional year would align it with its key business partners.
Its shares were trading down 8% at 299.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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