IndigoVision shares up again after ‘positive’ outlook

Shares of Edinburgh-based video security company IndigoVision rose for the second day in a row after it said in a trading update on Thursday that in the first 19 weeks of 2017 its overall revenues were ahead of the corresponding period last year.

IndigoVision said the immediate outlook for the firm “is more positive than it has been for some time, and the medium term prospects are promising.”

The company added: “The board continues to expect that 2017 as a whole will see improvements over last year, with both sales and profits, as in recent years, second-half weighted, and the latter part of the year also benefitting from higher revenues in North America.” 

IndigoVision said that in the four months to April 2017, software licence and camera volumes again showed strong year on year growth of 28% and 10% respectively.

After declining throughout 2016, average camera prices had now stabilised. 

The company added in its trading update: “In the first four months of 2017, revenue growth in excess of 10% has been achieved in Latin America, and in Europe, Middle East and Africa.  

“Asia Pacific sales are in line with last year. 

“North American sales have been well below potential and, as intimated in March, management action has been taken to improve sales performance. 

“A recent restructuring of the US sales organisation into three teams has created a more regionalised focus, under the leadership of experienced sales directors, two of whom have recently been recruited from leading competitors. 

“IndigoVision now has a fully-distributed US sales team capable of driving revenue growth in this important market and expects to see the benefits of this showing through in results in the second half.”