Amino Technologies dives as US tariffs lead to customer hesitation

8th Oct 2018 09:29

(Sharecast News) - Shares Amino Technologies plummeted on Monday as the set-top box software specialist reported that profits are likely to be flatter than expected as US tariffs lead cause uncertainty for some clients.An increasing numbers of orders have become delayed in some regions, with uncertainty had been perpetuated by planned US trade tariffs that were resulting in lower than anticipated orders and higher than anticipated component price increases in the second half of the year.The company said that although the tariffs do not affect Amino's products directly, they have left customers confused and hesitant.Keith Todd, non-executive chairman, said: "The board remains confident in the strength and strategic direction of the company and has committed to continue its dividend policy for this financial year and maintain this dividend level for at least two years thereafter."The board's dividend policy was for increases of no less than 10% for a full-year.Adjusted profit before tax is estimated to come in at approximately $11.5m for the full-year, up from $11.2m the previous year, while cash flow remains strong and is expected to be higher at year end 30 November than at 31 May."The diversity and depth of change in our industry this year has created difficult trading conditions in the short term, however the company remains well positioned to take advantage of the all IP future, and remains profitable and cash generative," said Todd.Amino Technologies' shares tumbled 29.55% to 149p on Monday morning.