Vislink PLC
27 November 2003
Vislink plc
Contract win, trading and operational strategy update
Contract win
Vislink plc ('Vislink') announces the award of a US$58 million (£34 million)
contract to supply new equipment and services to the Venezuelan national
broadcaster, Compania Anomina Venezolana de Television ('VTV') to upgrade their
national TV network.
The contract was won by Continental Microwave Limited ('CML'), a subsidiary
company within Vislink's UK broadcast business. CML will manage the supply and
installation of microwave and satellite transmission links, TV transmitters,
outside broadcast vehicles and new studio production equipment. The financial
benefits of this contract will be spread over 2004 and the first half of 2005,
with a minimal contribution to this year's results.
Trading update
As reported in the interim statement in September, the company reported that the
trading results for the full year to 31 December 2003 would be dependent on the
timely conversion of the potential orders by the UK broadcast business. The
level of new business in the UK has been slower than expected and therefore the
Group's trading results for the second half of this year are now expected to be
similar to those of the first half.
Vislink's US broadcast business has continued to perform strongly and has won
significant orders from broadcast, homeland security and US Government
customers. Hernis continues to trade in line with expectations.
Operational Strategy update
The strategic process, reported upon in both the 2002 full year and 2003 interim
results statements, relating to the operational rationalisation and overhead
reduction of the UK broadcast business, together with the scaling down of its
transmitter business will result in a provision being made for the exceptional
costs of circa £3.7 million in the 2003 full year accounts.
----Ends---
For further information on Thursday November 27 2003, please contact:
Ian Scott-Gall 01488 685500
Chief Executive
James Trumper 01488 685500
Group Finance Director
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.