Amino Technologies (AIM:AMO) reassuring update after the previous disappointment and 5% yield
Following the disappointing update in October 2015, the Cambridge-based provider of digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution delivered a more reassuring trading update for the year ended 30 November 2015 that could offer support to the share price. A 5% dividend yield will also encourage in the short term!
The Group has confirmed that it is trading in line with revised market expectations for both revenue and profit before tax and exceptional items. The house broker forecast for the year ending Nov 2015 is currently for adjusted pre-tax of £4.3m and eps of 7p and a dividend of 5.5p. For 2016 pre-tax is forecast to leap to £8.3m and eps to 9.2p boosted by the Entone acquisition. Net cash at 30 November 2015 is now forecast to be £2.1m, following the acquisition of Entone Inc. in August 2015 and ahead of market expectations of a negative £0.4m. Management have…