Shares plunge in IndigoVision as firm signals full-year loss
SHARES in IndigoVision plunged nearly 30 per cent in morning trading after it warned it would make a loss for the year and announced the departure of boss Marcus Kneen.
The Scottish CCTV specialist highlighted further difficult trading conditions in the Middle East, where it is dealing with “unforeseen delays in securing a number of large contracts”.
As the Midlothian-based company conceded that it will now not meet its trading expectations for the year to December 31, it announced that Mr Kneen had stepped down as chief executive with immediate effect. He has been replaced on an interim basis by Pedro Simoes, who was apppointed senior vice president for global sales on October 2.
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