Indigovision faces slow sales

INDIGOVISION, the Edinburgh-based digital CCTV company, has warned of slowing sales growth in the second half of its year.

While insisting it would still meet profit forecasts for the year to July 31, the company said revenue would miss previously published forecasts by about eight per cent.

Shares plunged 19 per cent on the back of the news.

The company has shown strong growth in recent years, winning contracts to supply security surveillance at sites around the world, from tourist attractions such as Edinburgh Castle to casinos in the US.

In a statement, Indigovision said slower spending by corporate clients would mean revenue for the year would be around £18.4 million.

That is a 37 per cent increase over the previous year, but falls below the £20m forecast.