Shares in IndigoVision leapt by roughly 17% during early trading this week after the digital CCTV specialist reported an operating profit of £1.23 million for the six months to the end of January, up from £926,000 in the same period last year.
The company generated £18.4m in revenue – up 14% on the previous year – spread across key markets as follows:
- Europe, Middle East & Africa – £5.9m
- Latin America – £5.1m
- North America – £4.2m
- Asia Pacific – £3.2m
Speaking exclusively to SecurityNewsDesk, IndigoVision CEO Marcus Kneen said, “We are obviously delighted with the half-year financial results as they clearly reflect the ongoing success of IndigoVision. We have had a fantastic period of growth that has resulted in a 23% increase in sales across key markets such as the US, EMEA and Asia Pacific, and we’ve seen a great increase in camera sales, accounting for 54% of all sales, helping us reach a 28% overall increase in sales.”
Two years ago, the company set about repositioning itself as a global leading camera provider, and in the last 12 months alone it has introduced 12 new cameras to the market. However, Kneen believes that this is only part of the reason for such impressive financial results.
“Not only has IndigoVision expanded and dramatically increased its standing in the surveillance camera market, we have also strengthened our management team with internal promotions and new appointments,” he said. “This has helped us strengthen the company as a whole. In addition, we have taken on an array of high profile projects across the globe, for example providing an integrated solution for Sao Paulo International Airport. As a direct result, we are now seeing these successes reflected in our financial report.”
IndigoVision has made a name for itself in the security industry as a leading innovator which has met specific industry needs by being the first to introduce an HD camera and a scalable VMS system.
Kneen said prospects look good for the company. “The next half of the financial year is looking busier than ever, with a record amount of orders and projects on the books. We will continue to improve on our strong reputation, working with an array of Fortune 500 companies and completing more high profile projects. In addition, we will be expanding our reach into the wider market and building new partnerships. The future is full of potential, and I am highly optimistic that this pattern of growth, both financially and commercially, is set to continue for many years to come.”
Links
IndigoVision Group plc First Interim Report 2014
www.indigovision.com
