Internet television (IPTV) specialist Amino Technologies is optimistic after following its strong first half of the year with the appointment of a new chief executive and a strategic acquisition.

Cambridge-based Amino, which makes set-top boxes that enable viewers to watch television over their broadband network, has traditionally sold its wares to second and third-tier telephone companies but believes its new addition, IPTV software concern AssetHouse, will allow it to sell to the top tier. Its software, which lets companies manage, deliver and monitor their internet video content, forms the basis of BT’s own IPTV service.

Although BT is AssetHouse’s only customer so far, new chief executive Andrew Burke – an internet entrepreneur who founded the company now known as Tiscali then was chief of BT’s entertainment division – is encouraged that ‘it proves the software in a Tier 1 environment’ and says ‘you can expect us, in short order, to announce a new customer’.

‘This software permits IPTV to be a lot more targeted experience. We’re targeting Tier 1s but it’s equally applicable to tier-2s and 3s with a differentiated product.’

Driven by cost-management and new sales of high-definition products, results for the six months to May showed sales swelling 7.1% to £14.5m and last time’s £0.4m loss converted into a £1.1m pre-tax profit. Gross profit margins were higher than usual at 44.2% and will fall to nearer 30% over time.

With a rock solid balance sheet of £19m net cash Amino plans to exploit substantial market growth, especially in emerging markets of eastern Europe and Asia, with its improved product range and further spending on R&D. Speculative buy.

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Amino Technologies	AIM	£27.62m	47.75p	0.00p
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