IndigoVision flags sales improvement for 2019 financial year

IndigoVision reported on Monday that sales for the financial year ended 31 December totalled $50.1m (£38.57m), representing a 9% increase over 2018.

The AIM-traded firm said gross margins were maintained in line with the prior year, and with strong cost control, it added that it was expecting to report operating profit and EBITDA in line with market expectations.

“Following the drawdown of $2.7m of the new bank facility to fund the cash consideration for the acquisition of AgoraSys, completed in November, net cash in hand at 31 December was $2.0m,” the board said in its statement.

It said its preliminary results for the year ended 31 December would be published on 5 March.

At 0900 GMT, shares in IndigoVision were down 0.28% at 178p.