IndigoVision (AIM:IND) don’t give up on IND, although greater value in software?
The provider of intelligent networked video security systems for government, critical infrastructure, transport, city monitoring and casinos, announced its results for the extended 17 month period to 31 December 2014.
Progress appears to have been modest and the relatively lowly valuation (Mkt cap approx. £27m) suggests that many seem to be giving up on this business. We would counter that now is precisely the time to start getting interested! The Group presented its accounts in USD for the first time being the primary operating currency of the business and moving the year end to 31st December brought in a 17 month accounting period. On a like for like (17 month basis) revenue was up 10% $82.5m, but operating profit of $4.27m was down 14% driven by a significant exchange rate…