Amino claims strong trading in the first half of 2017 | IPTV | News | Rapid TV News
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Digital TV entertainment and cloud solutions technology provider Amino Technologies has posted solid H1 2017 results with annual revenue growth of 21% to £40 million and adjusted profit before tax up 64% to £6.9 million.

Amino logo CMYK LS.epsThe company says that its results for the six months ended 31 May 2017 were achieved by effective execution on its order book. It adds that it had enjoyed continued sales growth in North and Latin America with growing traction in the transition from cable to IP. In the latter territory, it was moved to note the launch of its Enable virtual set-top box (STB) software to address operator demand to transform legacy devices to new user experiences. It has already been deployed by Chilean operator GTD.

Other notable achievements in the half year were deployment of its first end-to-end entertainment delivery solution for European operator and broadened device portfolio with launch of a new Android TV device.

Commenting on the results, non-executive chairman Keith Todd said: “We are delighted to deliver a strong first half performance which has been. Revenue and adjusted profit before tax are in line with our expectations and the closing cash position is ahead of expectations. Our sales pipeline is robust and we are therefore confident that we will deliver full year profits in line with market expectations.”

As an indication of where business was likely to be, Amino’s trading statement for the first half of 2017 noted that sales of IP devices were strong, particularly in North and Latin America which reported overall revenue growth of 38% and 196% respectively. It added that the Latin America market continues to develop, with both established operators and new entrants deploying significant volumes of devices and regulatory change in the region likely to present new opportunities. By contrast, European sales were 48% lower year-on-year, principally due to the change of ownership of a key customer impacting the timing of orders which we expect to recover over the medium term.

Beyond this, Amino sees see new opportunities in an increasingly disrupted global market where traditional operator business models face continued pressure from OTT subscription video-on-demand (SVOD) providers, such as Netflix and Amazon. It also sees openings with 4K/Ultra HD technology and that the continued industry shift towards IP-based delivery of TV has meant growing traction for newer offerings, as consumers demand higher performance devices and operators deal with their legacy deployments.
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