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Amino to shutter Swedish office next year

UK set-top box manufacturer Amino has indicated that its 2012 revenues will be down around 20% this year, and plans to close its Swedish office in early 2013 as part of a drive to cut costs.

The company is forecasting full-year revenues of approximately GB£ 41mn (US$ 66mn), down 21% annually from GB£ 51.8mn in 2011, but expects to post a profit for the year as a result of focusing on executing only “high margin, cash generative business”.

To further improve operational efficiency, the company is focusing its technical research and development capabilities at its Cambridge headquarters and plans to close its Swedish office early in 2013.

The company will announce its full year results on Monday, 28 January 2013.

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