Increased sales helps Amino turn to profit

New orders helped Amino to report a first half profit for 2012.

The IP set-top specialist received follow on orders from Telecom Italia, having supplied 50,000 devices at zero margin, generating £1.3 million (€1.6 million) of revenue in the first six months of the year. The company also benefitted from increased sales to customers in the Netherlands, where sales during the first half were £3.7 million higher than those seen in the prior period.

Profit for the first half of the year amounted to £0.2 million, compared with a loss of £0.4 million for the same period a year earlier.

Amino sounded a note of caution for its business in Russia, where it said conditions were “unsettled” and sales were down £0.4 million year-on-year.

“In the first half we have continued to see the benefits of the hard work and encouraging, profitable performance delivered by the Amino team last year. We have maintained good progress in our core markets, both in western Europe and in North America, where our partnership network continues to grow. Our investments in new products are also improving our competiveness and opening up opportunities for growth in new markets,” said Keith Todd, Amino’s non-executive chairman. “Looking ahead, we will continue to focus on solid execution right across the business from sales to supply chain. The positive traction we have seen in this first half has continued since the period end, underpinning the Board’s confidence in meeting its profitability expectations for the financial year as a whole.”