11 November 2014 – trading update
A profit warning from Indigovision has seen the shares slip. Sales for the fifteen months ending 31 October 2014 were £43.4m, 9% ahead of the 15 month comparative period to 31 October 2013. However, sales in the fifth quarter were lower than anticipated. Gross margin percentage for the fifteen months remained in line with that reported for the 12 months to 31 July 2014, 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. A post close trading update is due to be released in early January 2015, with results for the 17 months to 31 December 2014 expected to be announced on 26 February 2015. Given the fall in the share price we believe the shares remain GOOD VALUE.