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A recession-fuelled surge in shoplifting and fraud was good news for CCTV-maker IndigoVision, which today posted a 43% rise in full-year revenue to £26.4 million as firms ranging from John Lewis to G20 summit organisers splashed out on security.
As IndigoVision's cameras were installed at casinos in Arizona, airports in Shanghai and Butlins in Bognor Regis, operating profit soared by almost two thirds to £3.26 million.
Shareholders were offered a 5p maiden dividend.
Chief executive Oliver Vellacott - who started the firm from home in 1994 - said the firm would grow fast as the security market moved from analogue to specialist internet-based technology.
It sells high-definition cameras that owners can watch from anywhere with internet access, and include two-way audio for users to “speak” to places like the bank branches, casinos and military situations where they are installed.
He added: “In the current year we will be stepping up spend on research to prepare IndigoVision for the next phase of growth.”
The firm has installed some cameras on the Olympic construction site and hopes to win the 2012 contract.
