UK-based Vitec Plc, which owns a dozen companies in the broadcast industry, said in an interim management statement that its trading in the first four months of 2012 has been in line its expectations.
The company also said that its expectations for the full year remain unchanged, despite concerns about the macroeconomic environment and limited order book visibility. In its most recent earnings release, Vitec said it made a pre-tax profit of £33m on revenue of £351m for the full year 2011. At that time the company said it expected progress in 2012, but did not offer a more detailed outlook.
Vitec said its has experienced good demand in its Videocomm business, which includes Anton/Bauer, Autoscript, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten, and Vinten Radamec.
Vitec also said its Services Division (Bexel) has made a good start to the year and is well placed to benefit from the London 2012 Olympics.
At 30 April 2012, Group net debt was £59.7 million, after the acquisition of Camera Corps for approximately £8.0 million, compared to net debt of £50.4 million at 31 December 2011.
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