IndigoVision heading back into black

IndigoVision, the Edinburgh-based video security specialist, yesterday said it expects to end 2016 back in profit after suffering losses last year.

Marcus Kneen of IndigoVision

The company, headed by chief executive Marcus Kneen, said the second half of the year to date has seen higher revenue than in the first half and the same period last year. Camera volumes are up 20 per cent year on year although the increase has been largely offset by lower selling prices.

The company said the recent launch of a new video management software product is expected to widen market opportunities and reduce the volatility of sales based around large projects. It added that “overheads remain well controlled and materially below last year”.

Working capital improvements previously reported have been maintained and the group expects to finish the year with an improved net cash balance. The company reported operating losses of $700,000 in 2015.