18th Nov 2013 10:46
LONDON (Alliance News) - Wireless communications company Vislink PLC Monday said it is on course to achieve revenue of GBP80 million and GBP8 million in operating profit for all of 2014, as it continues to trading in line with expectations.
In August, Vislink reported revenues of GBP28.0 million and pretax profit of GBP1.4 million for the half year to June 30, both up on the previous period, boosted by growth in the Middle East.
Since then overall trading has been in line with expectations, although Vislink said order book visibility remains limited.
The company, which produces wireless communications products and services for the broadcast, defence and security markets said economic conditions in the US, UK and Europe - its main markets - remains challenging.
"However the group has a well-established international sales force, a strong brand and market-leading products and this has enabled us to secure key business opportunities," it said.
Vislink said it has continued to invest in developing new products and solutions.
The company plans to support the achievement of its target of GBP80 million in revenue and GBP8 million in adjusted operating profit by the end of FY2014, through small-sized acquisitions.
Earlier this year Vislink partnered with C-COM Satellite Systems Inc, a Canadian mobile antenna manufacturer based in Ottawa to expand its satellite communication product offering.
The stock was trading 46.63 pence Monday morning, up 1.62 pence or 3.3%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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