24th Nov 2022 09:02
(Alliance News) - Videndum PLC said on Thursday it will reorganise itself to maximise growth, while saying its expectations for 2022 remain unchanged.
The London-based video hardware and software provider said it will reorganise its creative solutions sales and marketing teams into specialist vertical segments, focusing on products incorporating the patented Amimon technology.
It comes after a period of research and development in creative solutions, seeing high demand for Videndum's Teradek and SmalHD 4K/HDR video transmission and monitoring systems. Videndum also said its medical segment grew with strong Amimon product demand in operating rooms.
The cash cost of reorganisation is expected to be around USD2.5 million with non-cash write-offs of USD5 million, while the cost base is expected to reduce by around USD3.5 million.
Videndum said adjusted pretax profit expectations for 2022 remain unchanged from August, when it anticipated between GBP51.1 million and GBP54.6 million. This would be up from GBP42.4 million in 2021, despite the company noting an uncertain economic environment which is weakening consumer spending.
"The fundamental growth drivers of the business remain very positive, and these are underpinned by technology change driving shorter product replacement cycles. The group's market-leading, premium brands allow us to manage inflationary headwinds with pricing actions and to manage supply chain challenges through operational excellence," said Chief Executive Stephen Bird.
Shares in Videndum were up 0.4% to 1,304.75 pence in London on Thursday morning.
By Greg Rosenvinge; [email protected]
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