18th May 2005 14:30
The Vitec Group PLC18 May 2005 18 May 2005 The Vitec Group plc AGM Statement Michael Harper, Chairman of The Vitec Group plc ("Vitec"), the internationalsupplier of products, services and solutions to the Broadcast, Entertainment andMedia industries, will make the following statement at today's Annual GeneralMeeting: "Trading for the first four months of the current financial year has been inline with the Board's overall expectations. The Group continues to invest inproduct development and, as last year, Vitec won several awards for productinnovation at NAB, the major US broadcast trade show, in April 2005. "Looking forward, the Group's performance remains linked to the future growthrates in advertising demand, where trends are presently unclear, and to theuptake of digital SLR cameras, which remains strong. Foreign Exchange rateswill also continue to influence the Group's results. Towards the end of 2004,the US dollar fell significantly against both the £ and •, though since January2005 it has remained much more stable. "Last week we announced the acquisition of Kata, a leading supplier of camerabags, and we expect this transaction to complete by the end of May 2005 andcontribute to earnings this year. "Overall, the Board reiterates its comments at the time of the Full Year Resultsin March 2005 and continues to view the outlook with cautious optimism." Tomorrow, Thursday 19 May 2005, the Group will publish its unaudited resultsunder International Financial Reporting Standards (IFRS) for the year ended 31December 2004 and will host a conference call for analysts at 9.30am on thatday. - Ends - Enquiries: Gareth Rhys Williams Telephone: 020 8939 4650The Vitec Group plc Rob Gurner Telephone: 020 7269 7291Financial Dynamics Notes to Editors: The Vitec Group plc supplies a wide range of equipment and services to thebroadcasting, entertainment and photographic industries. Its products aredistributed in nearly 100 countries, either through dealerships or direct to theend user or corporate sector, and it has manufacturing facilities in fourcountries. The Vitec Group is a major force in its chosen specialised fields. More information can be found at: http://www.vitecgroup.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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