Vitec Group Says Trading In-line with Expectations Despite Challenging Macroeconomic Environment

Posted by Joe Zaller
Nov 19 2012

The Vitec Group said in an interim management statement that its trading since the release of its results for the first six months of 2012 has been in line with expectations.

However, the company said that the “macroeconomic environment has become more challenging” and that it was therefore “controlling [its] costs accordingly.”

“We are continuing to monitor our markets closely. Although our order book visibility is limited, the Board’s view for the full year remains unchanged,” the company said in the interim statement.

Vitec’s broadcast-focused Videocomm division is made up of more than dozen brands that serve various parts of the broadcast industry: Anton/Bauer, Autoscript, Camera Corps, The Camera Store, Haigh-Farr, Litepanels, Microwave Service Company, Nucomm, OConnor, Petrol Bags, RF Central, Sachtler, Vinten and Vinten Radamec.

The company said that “within the broadcast and video market our core broadcast business has performed in line with our expectations. Camera Corps, acquired in April 2012, and the Services Division both benefitted from supporting the London 2012 Olympics.”

In August 2012, Vitec said that although the macroeconomic environment remains uncertain and its order book visibility is limited, the company’s expectations for the full year remain unchanged.

For the first six months of 2012, the company’s was £176.5m, an increase of 2.7% versus the first six months of 2011, and up 0.7% on an organic basis.

For the full year 2011, Vitec posted  a pre-tax profit of £33m on revenue of £351m.  At that time the company said it expected progress in 2012, but did not offer a more detailed outlook.

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Related Content:

The Vitec Group plc Interim Management Statement for the period 1 July 2012 to 18 November 2012

Vitec Group 1H 2012 Results: Videocom Revenue Up 12.3 Percent, Bexel Down 2.1 Percent

Vitec Group 2012 Annual General Meeting Presentation

More Broadcast Vendor M&A: Vitec Plc Disposes of Loss-Making Staging Businesses

Vitec Group Says 2012 Trading In Line with Expectations

More Broadcast Vendor M&A: Vitec Group Acquires Camera Corps for £8 Million

Vitec 2011 Results: Videocom Up 12 Percent, Bexel Down 7.9 Percent Versus 2010

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