IndigoVision back in black despite 2019 challenges

Max Thowless-Reeves is chairman of IndigoVision. Picture: Contributed | other

Security camera technology firm IndigoVision hailed a “significant turnaround” at the Edinburgh business as it swung back to profit last year and reinstated its dividend payout.

Chairman Max Thowless-Reeves said the achievement had come against a difficult trading backdrop for the business.

He said moves to strengthen the senior management team, improve cost control and the acquisition of Portuguese firm AgoraSys had all played an important part in delivering an operating profit of $2 million (£1.5m) in 2019 compared to a loss of $640,000 the previous year.

Shareholders are in line for a final dividend of 2p a share.

Thowless-Reeves said it had been the first set of annual results for many years “that the board deems acceptable”.

He also stated: “There were many excuses available for management teams in 2019 to deliver results below market expectations. Our executive team and staff have refused to be deflected from their mission.”