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The rise of global terrorism may be bad news, but the changed security situation has bolstered the market for security systems based on closed-circuit TV.
One firm specialising in this field is Indigovision (IND). Its internet-based technology allows cameras to transmit their pictures wirelessly to a closed network that can be viewed anywhere in the world.
This small Edinburgh firm supplied its technology to the last two G8 summits and the Olympic games in Athens, where Indigo’s technology connected 2,000 cameras in 47 venues across 250 sq km to 1,250 operators in 63 command centres.
This fast-growing market is currently worth $3bn a year globally. Indigo has two larger listed competitors, Verint in America and German engineering giant Bosch. But Indigo is the only one that provides an end-to-end solution, says Timon Day in Shares. Providing all the components gives Indigo the advantage of lower commissioning costs and faster implementation of new features, such as the near instant ability to locate an incident caught on camera.
With successes in America, Europe and the Middle East, new sales and support offices are being set up in Latin America and the Far East. Turnover last year jumped 60% to £3.6m, with 10,000 units now operating. This year’s first-quarter sales were double the same period last year. Total sales could reach £7m and the company will surge into profit after cutting losses from £2.7m to £1.9m last year. The share price has shown some stellar performance, but in this climate of fear, growth should continue.
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Annunziata Rees-Mogg
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