Vitec Expects Full Year Profits Will Be Above Expectations

Posted by Joe Zaller
May 19 2011

The Vitec Group plc said in an interim management statement that it expects pre-tax profits for the full year to be slightly ahead of the top end of the range of current market expectations.  The company said that its trading in 2011 “has been encouraging, with a continued improvement in demand from all three markets” — broadcast, photographic and military.

The company’s Videocom division includes a dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, The Camera Store, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.

Vitec also owns broadcast equipment rental and service provider Bexel.

Vitec says that it has seen steady improvement in demand from the broadcast market, and that revenue from both Camera Dynamics and Litepanels are up for the first four months of the year versus the same period a year ago.

Bexel has “had a good start to the year [but] as expected, revenue was lower than the corresponding period in 2010, which included the Vancouver Olympic Games.”

In 2010 Vitec had revenue of £121.6m in the broadcast and film markets. 2010 revenue from Bexel was £34.3m in 2010.

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Related Content:

Vitec Interim Management Statement, May 2011

Vitec 2010 Full Year results presentation

Vitec Announces 2010 Results: VideoCom Revenue Falls, Services Post Strong Increase

Vitec 2010 earnings call presentation to financial analysts.

Information about Vitec’s results for the first half of 2010 is here.

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