Indigovision Group plc Reports Sales Results for the Quarter and Fifteen Months Period Ending October 31, 2014; Provides Financial Guidance for the Seventeen Month Period Ending December 31, 2014
In the fifth quarter, covering August to October of the current 17 month financial period to 31 December 2014, good rates of sales growth continued both in North America and in Europe, Middle East and Africa, but this was offset by lower sales in Latin America and Asia Pacific. As a result, overall Group sales for the fifth quarter were below expectations.
Although overall Group sales for the fifth quarter were disappointing, the Group continues to expect double digit sales growth for the 17 months to 31 December 2014, and the medium term outlook for IndigoVision remains favourable. As a result of the lower than expected sales in the fifth quarter, the Group currently anticipates that operating profits before foreign exchange movements for the 17 month period to 31 December 2014 will fall short of existing market forecasts.