SPECulative Society of Edinburgh Member
Online CCTV firm’s 25% boost in sales
MARK SMITH
Share 11 Mar 2011
IndigoVision, the Scottish maker of internet-based CCTV surveillance systems, posted a 25% surge in half-year sales helped by big infrastructure spending in Latin America, and said it had developed the world’s most open security system.
The Edinburgh-based firm, which has helped provide security surveillance cover for three G8 summits and four Olympic Games, also unveiled its first interim dividend of 4p per share since listing on AIM in 2000.
Contrary to Indigo’s upbeat news yesterday, its share price tumbled nearly 11% – or 60p –to 495p on thin trading volumes.
Nonetheless, the maiden dividend comes as the company posted a 16% rise in pre-tax to £1.4 million for the six months to the end of January, compared with £1.2m for the same period the previous year.
Turnover rocketed to £15m, compared with £12m last time.
Chairman Hamish Grossart said the global market for internet protocol video continued to grow, superseding traditional analogue systems.
“The world continues to experience both economic and political tremors, but there is plenty to be positive about in the majority of our markets,” he said.
“We continue to be confident about the immediate and long term future.”
Meanwhile, Indigo said its products now supported an open architecture – called Open Network Video Interface Forum, which was partly developed by Indigo itself – that allows its customers to add third party cameras to its systems.
Marcus Kneen, Indigo’s chief financial officer, yesterday said it was “too early to quantify” how much the development would add to future revenues, but said he expected “it would be substantial”.
However, he added: “The main thing is that we are there and we are there early.
“We are now very much part of the new global standard.
“It really does give our customers the best of both worlds – they get the easy installation and low service calls they’ve come to expect from our end-to-end solution, coupled with the freedom of choice that comes from a truly open system.”
Indigo’s systems are used in some 50 airports, bus and rail stations, ports and casinos, as well as in the education, health, retail and government sectors in more than 80 countries around the world.
It has been benefiting from the global shift from analogue to digital surveillance systems.
Asked what were the drivers behind the company’s growth during the past six months, Mr Kneen said: “There has been growth across all the regions we operate in, but particularly in Brazil, where there has been a lot of investment in infrastructure.
“We’ve had orders for railway stations, airports and for government security systems.
“But I think one of the real strengths of our strategy is that we have a very good spread of geographies and broad range of market sectors.”
Sales to Europe, Middle East and Africa climbed 13%, sales to Asia Pacific rose 38% and sales to the Americas were rose 33%.
Within the Americas, North America rose 23% and sales to Latin America surged 66%.
Mr Kneen added that Indigo, which employs around 150 staff with 82 of them based in Edinburgh, said the number of workers would rise over 2011 as the company continued to invest heavily in its engineering unit.
This worm of a man Hamish Grossart clearly lives down to his name and his Gross Art is abuse and bullying. Divorced by his wife for his physical abuse and his endless bullying both emotional and sexual he represented his income as a fraction of the reality
Note the long list of directorships, consultancies, past asset stripping etc. that this odious man represents as the kind of mean and mealie mouthed poverty that results in claims he should bully and abuse people through the Court system using his army of parasites, bought and paid for, the Scottish 'SYSTEM'.
It was his wife who gave him financial help to get started, yet this mental and emotional cripple set out in his degeneracy to bully and abuse her over many years - eventually being forced into a grudging settlement which was a pittance relative to her share of the family assets. Yes indeed a home for her children and some of the cash amounted to about £2Million but that once all the legal costs were removed and the property value extracted left very little RELATIVE to the fortune he had hidden from challenge.
We understand on one deal alone his personal income was £6Million and as he has hidden this from the Courts to 'screw' his daughter and son and his ex wife then one wonders if it was hidden also from the Tax Authorities!
I gather the police file on this man is similar to a dam wall as it is growing in stature and holding back the flood looking for that first crack that can be used for the authorities to make a move. Perhaps the American political maxim has come to play - 'When you decide to open a can of worms, be sure to have a bigger can'!
There must be many a director, lawyer and accountant who is concerned they may rue the day they became associated with this corrupt and venal little man - for sure his past wives do!
It is interesting to note the bottomless pit of unaccountable money he is finding to fund HIS lawyers as he seeks to bankrupt his ex wife and bully her into submission through vexatious litigation methods - legal though they may be petty, vexatious, mysogenistic and vile they clearly are!
Yes, since the case has been heard in open Court I am aware of the details and all the relevant facts - yes we have been informed by the many who loath him of much that is happening in his abuse of his family - it is a matter of record EXACTLY what he has agreed as payments for his children and though we do not publish it here at the moment may I assure you it is merely loose change to this odious skinflint petty bitch old man determined to control, bully and abuse the women and children in his life.
It does seem that this is the sort of filth upheld by the arcane, mysogenistic and incestuous legal system in Scotland, with Lawyers, Politicians, Civil Servants and senior Police all too often living cheek by jowel and often in the sponsorship of the business community.
Be minded that the top Bankers of RBS which included Sir Angus Grossart of Noble Grossart Bank seem embroilled in the loan at near base rate (fixed?) of £1 Billion to Murray International owners of Rangers Football Club which is I gather, like most major league teams, technically bankrupt supported by loans - I make no claims to understand the leverages and corruption that is nowadays passed off as banking but the linkage with the racist bigot and bully, an abuser himself, Donald Findlay QC who is Scotland's highest earner on the back of legal aid!
A deal which, since RBS is owned by the tax payers must surely be subject to the approval of the Scottish executive - It rather shows th depth of the mire that is what is laughably defined as The Scottish legal system and Justice in Scotland.
Minded of the wealth retained by such as Hamish Grossart in persuit of their Gross and tasteless Art of bullying women and children it does not seem unreasonable that one speculates to what extent the Courts via the lawyers and the establishment are beholden to the pockets of the wealthy robber baronsof Scotlands squalid set up!
IndigoVision Non-Executive Chairman joined the board as chairman in 1996. Cairn Energy PLC currently also non-executive deputy chairman Cairn India Limited a non-executive director Member and Chairman of the Audit, Remuneration, Nomination & Corporate Governance Committees
British Polythene Industries PLC Deputy Chairman Artemis Investment Management Limited a non-executive director PAST ACHIEVEMENTS!! Quality Care Homes Scottish Radio Holdings Digital Bridges Barker & Dobson - (Drayton Consolidated Trust) - Alma Holdings Royal Doulton Eclipse Blinds Scottish Highland Hotels Hicking Pentecost EFT Group He has over 20 years' experience on public company boards, in a wide range of industries,
both in an executive and non-executive capacity, frequently with catastrophic consequences.
He has left: a long trail of broken lives, betrayed staff, colleagues and women,
who have suffered from his emotional inadequacies and lack of maturity.
A weak and bullying individual, who brings shame and unhappiness to his children,
and those who misguidedly cared for him, as he sets out to prove his worth to himself.
Always acting egocentrically at the expense of those he can bully, exploit and control. An emotional Narcissist & a manipulative sociopath.
