Indigovision heads to the black

Indigo vision, the Edinburghbased digital CCTV developer, has said it is on target to “at least break even” in the current financial year.

In a trading update to coincide with its annual shareholder meeting, the firm told investors :“As in previous years, sales are expected to be weighted towards the second half of the year and the nature of our business is that the pre - cise timing of our orders is difficult to predict.

“Nevertheless, the current indicators support the board’s target to at least break even in the current year.”

The group pointed to the launch of a number of new products at a major trade show last month, noting that its patent pending technolo - gy can now be deployed across much of its camera range “providing a cost effective tool for monitoring cyber attacks”.

The company has also launched its “Integra” all- inone device, combining video storage and management software in a single piece of hardware.

“The Integra device is expected to drive new revenue from the SME [ small and mediumsized enterprise] market in the latter par t of the year”, it added.

In March, Indigo Vision insisted it was “well positioned for growth” despite sin king to a full-year loss. The firm, whose net work- based video security systems are used in the likes of airports, transport hubs and casinos, reported an underlying operating loss of $ 2.4 million (£ 1.8m) for 2017 compared with a nope rating profit of $ 400,000 a year earlier.

Revenues fell to $ 42.3m from $ 45.9m, while the firm will not be paying a final dividend. The results also showed that the group’s net cash balance had fallen to $ 2.6m from $ 6.2m.

Chairman George Elliott conceded at the time of the results that the financial performance in recent years “has not been acceptable” with the firm failing to achieve its full potential.