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Although the Americas performed strongly

Interim results show Amino is still going strong

Amino picks up the Price Bailey award for of the Year at the 2017 News Excellence Awards from Justin Webb and Paul Cullen from Price Bailey (Image: Keith Jones)Get daily updates directly to your inboxSubscribeSee our privacy noticeAmino Technologies the Swavesey based developer and provider of solutions for the delivery of digital programming and IP network interactivity has today delivered some excellent interim results.This saw the company announcing adjusted pre tax profit of on revenue of representing an impressive 64% increase on the corresponding period for last year and which importantly, already delivers 63% of the current full year expectations.Continuing the positive theme, Amino which has in more recent times been a strong generator of cash delivered a period end cash figure of which was boosted by canada goose outlet real the unusual beneficial movement of working capital.Speaking with CEO Donald McGarva and FD Mark Carlisle on the back of the release, it is clear there is a continued and growing confidence in and around the business where prospects for the future look bright."We are very pleased with the first canada goose outlet half" says McGarva "and going forward we know where we are, what our markets are and where they are going". The performance has been solid, margins good and with a strong team and broadband portfolio we are providing the right solutions and services".IPTV specialists expect record breaking start to goosesea the yearAlthough UK based, the winner of this years top prize at the News Excellence Awards derives almost all of its income from overseas with North America holding centre stage."We have a deep foothold in North America with a core operation and our turnover increased by a very healthy 38% for the period" adds the CEO.Whilst the region continues to offer further opportunities for growth particularly around its Amino Enable offering that supports the upgrading of legacy products, McGarva is equally enthusiastic around the prospects for the business across Latin America.It is an area that had been on the company's radar some four years back which was when I last dropped by for a visit, McGarva then stressing the opportunity that existed for the company. Fast track to the present and Amino has delivered highly impressive revenue growth of 196% from the region over the first six month period."Factors such as regulatory changes in have been positive for us there and it remains an attractive place to be as evidenced by some recent announcements that we have made"This includes the most recent release also centred around its Enable offering, which saw the company announce that Chilean communications provider GRUP GTD Teleductos had deployed the company's virtual set top box platform. This enables the extension of legacy devices through the upgrading of set top boxes to provide a unified interface.Although the Americas performed strongly, Europe registered a 48% decline which was attributed to one major customer."This was something we had canada goose outlet parka foreseen and expected" explains McGarva, "and it had already been factored into our forecast numbers.The reason behind this was due to the canada goose outlet nyc takeover of Vodafone's fixed line canada goose outlet in toronto and broadband business in the Netherlands to T Mobile, which created a hiatus period. However, we believe that they will continue to invest and we expect that to now turn back"There are also opportunities opening up in the Asia Pacific region where Amino has also invested says McGarva, the company now operating from a large office that is now building a healthy pipeline in order to fuel growth.Strong cash generation and a commitment to growing dividends has been a canada goose outlet washington dc familiar theme for Amino over recent years and it remains something that is at the core of the operation.FD Mark Carlisle is keen to speak of the solid cash position at the halfway stage and expanded on the working capital movement. "Cash in Q4 of last year and Q1 of this year were up due to large orders that came from big customers and which were completed by Q2" He also adds that debtor days had come down to just 25, while in Latin America the company benefited from up front payments.Amino is also seeing recurring revenue around maintenance and service increasing from a previous 5% to 8% although McGarva emphasises that looking at other aspects of the business customers typically come back for further orders or upgrades six months down the line but these are not recognised as a recurring revenue stream.Looking ahead to the full year, broker FinnCap canada goose outlet seattle which has a target price of on the stock against a current price is looking for full year revenue of with pre tax profits of giving EPS canada goose outlet toronto address of 13.7p.That is expected to increase canada goose outlet toronto next year to provide for pre tax profits of and 14.7p EPS which sees the shares trading on a forward PER of 13.That looks to offer decent value, particularly given the anticipated 2018 net cash position of which even allowing for working capital requirements suggests that for a growth company, the rating is highly attractive.Speaking on previous lumpiness which precipitated a warning a couple of years McGarva says this is now dissipating and although revenues will go up canada goose outlet online uk and down from time to time, the building of customers and a diversification is smoothing this out and Amino is very much a robust business.

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