Macro headwinds intensifying
Amino has announced that macroeconomic headwinds affecting the business have intensified, and the company expects higher than anticipated component prices in H2 2018E. Management have adjusted their expectations for FY 2018E profits, with adjusted PBT expected to be c$11.5m. We take the company’s cue and reduce our forecasts accordingly. On a more positive note, cash performance remains strong, and management has confirmed its intention to increase the FY 2018E dividend by no less than 10%, with this level of dividend to be maintained to FY 2020E.