16 May 2019 – AGM trading update
In the four months to 27 April 2019 trading was in line with market expectations. As is usual, sales are expected to be weighted towards the second half of the year and the precise timing of our orders is difficult to predict. However, there should be a return to profitability in the current year. During the period the company received two large customer orders, both in excess of US$1m. These orders relate to open space and car parking facilities in a substantial commercial building and a mass transit rail line, both in Malaysia. The majority of the planned restructuring of the supply chain has been completed. Production of IndigoVision products from the new facility in Mexico, which is intended to secure tariff-free access to the US market, has started recently. IndigoVision has no debt and had cash on hand of US$2.5m as at 27 April 2019. The conclusion of an invoice finance facility should also be announced in the near future. The shares are a BUY.