The Vitec Group PLC
14 July 2005
For immediate release
The Vitec Group plc
Trading update
14 July 2005
Overall, trading for the first six months of 2005 has been in line with the
Board's expectations, with growth in sales in most units offset by currency
movements.
In both our Broadcast Systems and Photographic divisions we continue to achieve
encouraging take-up of new product lines. Our Broadcast divisions are pursuing
opportunities arising from the increasing adoption of High Definition TV, with
encouraging conditions in Broadcast Camera Support; however the Broadcast
intercoms market remains difficult. Our Photographic division continues to
benefit from the growing digital SLR camera market.
The benefits of the manufacturing and commercial restructuring actions we took
in 2003 and 2004 are being delivered as anticipated and the integration of the
recent Kata acquisition is progressing well.
Order intake remains satisfactory and the Board views the outlook for the full
year with cautious optimism.
Enquiries:
The Vitec Group plc: 020 8939 4650
Gareth Rhys Williams
Alastair Hewgill
Financial Dynamics: 020 7269 7291
Richard Mountain
Notes to editors:
1. The company will host a telephone conference for analysts at 8.00am today.
Please contact Richard Mountain at Financial Dynamics for details.
2. The interim results are expected to be released on 5 September 2005, in
accordance with International Financial Reporting Standards.
3. Whilst Vitec has significant production and sourcing in US dollars and
has hedging arrangements in place, movements in the $/£ and, particularly,
$/€ rates can have a significant impact on reported results.
This information is provided by RNS
The company news service from the London Stock Exchange
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