IndigoVision expects significant reduction in losses following strong sales

Edinburgh-based video surveillance outfit IndigoVision anticipates a significant reduction in losses after the group witnessed sales move ahead in its last financial year.

IndigoVision saw sales increase 9% to $45.9m in the year ended 31 December and also managed to maintain the positive trend in gross margins reported by the group back at the time of its interim results.

As a result, IndigoVision expects to see a "significant reduction" in its operating loss.

Elsewhere, the AIM-listed firm had a net cash balance of $2m at the end of the calendar year. It has also continued its discussions with debt providers to replace its existing Royal Bank of Scotland overdraft facility which expires on 28 February.

As of 1130 GMT, IndigoVision shares had climbed 4.36% to 120.01p.