REG - IndigoVision Group - Trading Update <Origin Href="QuoteRef">ID2A.L</Origin> <Origin Href="QuoteRef">LAND.L</Origin>

Land SecuritiesAnnouncement

11/11/2014 08:31

RNS Number : 6521W
IndigoVision Group PLC
11 November 2014
11 November 2014
IndigoVision Group PLC
Trading Update
Group sales for the fifteen months ending 31 October 2014 were 43.4m, 9% ahead of the 15 month comparative period to 31 October 2013. In the fifth quarter, covering August to October of the current 17 month financial period to 31 December 2014, good rates of sales growth continued both in North America and in Europe, Middle East and Africa, but this was offset by lower sales in Latin America and Asia Pacific. As a result, overall Group sales for the fifth quarter were below expectations. Gross margin percentage for the fifteen months remained in line with that reported for the 12 months to 31 July 2014, and in line with expectations. 
Foreign exchange movements have continued to impact the business, with a cumulative negative impact of 0.33m for the 15 month period to 31 October 2014. As announced with the Second Interim Results, the Group will report its financial results for the 17 month period ending 31 December 2014 in US dollars. 
Although overall Group sales for the fifth quarter were disappointing, the Group continues to expect double digit sales growth for the 17 months to 31 December 2014, and the medium term outlook for IndigoVision remains favourable. As a result of the lower than expected sales in the fifth quarter, the Group currently anticipates that operating profits before foreign exchange movements for the 17 month period to 31 December 2014 will fall short of existing market forecasts.
A post close trading update will be made in early January 2015, and the full results for the 17 months to 31 December 2014 are expected to be announced on 26 February 2015.
For further information please contact:
IndigoVision Group plc

Marcus Kneen (CEO)

Holly McComb (CFO)
+44 (0)131 475 7200
N+1 Singer - Nominated Advisor

Sandy Fraser 
+44 (0)131 603 6873
Notes to Editors
About IndigoVision
IndigoVision is a leader in the design and manufacture of high performance, intelligent video security systems for large scale and complex security installations. From video capture and transmission to analysis and storage, IndigoVision networked video security systems provide the best quality and most secure video evidence, and use market leading compression technology to minimise network bandwidth usage and reduce storage costs.
IndigoVision's technology is ideally suited for use in mission critical facilities such asgovernment, petrochemicals, transport, cities, industry, education, police, prisons and casinosto improve public safety, protect assets, develop organisations' operational efficiency and support law enforcement.
IndigoVision has sales and support teams in 22 countries and operates through 14 regional centres, in Edinburgh, London, Paris, Amsterdam, Dusseldorf, Dubai, Mumbai, Singapore, Shanghai, Sydney, Toronto, Bogot, New Jersey, and Sao Paulo. IndigoVision partners with a network of some 600 trained and authorised IndigoVision resellers to provide local system design, installation and servicing to IndigoVision's system users.

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