Edinburgh-based IndigoVision Group Plc is a leading manufacturer of complete end-to-end IP video security solutions. Today the company released its results for the year ended 31 July 2009 and announced its ninth AGM is to be held on 4 November at The Edinburgh Technopole. Operating profit for the year was up 59% to a record £3.26 million (US$5.2 million) and revenue rose 43% to a record £26.4 million (US$42.2 million).

One of IndigoVision’s main areas of business is IP Video CCTV systems for casinos. According to the company, casino operators are among the most pro-active and demanding users of CCTV surveillance and a quality casino surveillance system is an essential business tool used to resolve gaming disputes, monitor public safety and detect fraud, cheating and theft. The very nature of the gaming environment where patrons and staff intermingle and handle large sums of money demands that the video system delivers the best quality video available in terms of both image quality and frame rates.

Casinos want a single, scaleable, integrated solution which provides reliable high-quality video surveillance across any number of their offices or sites and this is what IP Video delivers. Unlike centralised analogue systems which have a single point of failure, IP Video systems are distributed and provide a more resilient and fault-tolerant solution. Recording is achieved using Network Video Recorders (NVRs), which unlike DVRs can be located at any point on the network.

Speaking of the financial results achieved by IndigoVision, Chief Executive Oliver Vellacott said, “These are great results achieved in a difficult economic climate. I am especially pleased to be announcing our first ever dividend to shareholders. The financial results achieved are a direct result of the strength of our product range and its powerful supporting technology, the talented group of people which we have worldwide, and the strong market position which we have built based on the needs of customers.”

He continued, “The long term market potential for IndigoVision's offering continues to be attractive, the sales force is well developed, distribution and service centers are working well and finances are sound. Although the security market is moving from older analogue systems to IP, 90% of this transition has still to take place, giving IndigoVision a clear opportunity.”

30+ casinos in 8 countries across the world use an end-to-end IndigoVision solution that’s fully digital. In the US IndigoVision has 7000 channels of video deployed in 18 casinos across 7 states, including the Golden Nugget, Las Vegas and a massive 1,000 channel system at Arizona’s Casino del Sol. Enjoy Group in Chile also has a 1,000 channel system and IndigoVision is used in some Barrière casinos as well as Gala in the UK.

Oliver Vellacott concluded by saying that over the next year the company will be stepping up spend on research and product development to prepare IndigoVision for the next phase of growth. “We expect the short term economic background to continue to be difficult, but believe that IndigoVision can meet this challenge.” (E-09.30.09)

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