23/10/2010
Sales growth and product development at Indigo Vision
Dubai, UAE
As part of its continued commitment to open standards IndigoVision demonstrated at a number of trade shows a technology preview of ‘Control Center’, its Security Management Software, displaying live video from ONVIF-compliant IP cameras. The company is very active in the ONVIF development and currently sits on two of the working groups.
IndigoVision has continued to be strong with transport infrastructure projects. Major airport projects were completed in Shanghai and rail projects delivered in UK, Brazil, Canada and Finland. Other strong sectors for the company’s IP Video solution have been law enforcement, government and banks.
Commenting on the results Oliver Vellacott said “As anticipated, the year under review proved to be particularly challenging given the economic backdrop. Whilst the Company saw a mixed performance across the regions in which it operates, operating margins held up well and cash generation remained positive. The increase in spend on research and product development, up by nearly a third against the previous year, was largely absorbed by reductions in other operating costs.
We have had an encouraging start to the current year, with sales comfortably ahead of last year, although performance across the regions remains mixed. We are therefore cautiously optimistic in relation to the current year. Reflecting that, the board is recommending an increased dividend to shareholders.”