14th Jul 2005 07:00
The Vitec Group PLC14 July 2005 For immediate release The Vitec Group plc Trading update 14 July 2005 Overall, trading for the first six months of 2005 has been in line with theBoard's expectations, with growth in sales in most units offset by currencymovements. In both our Broadcast Systems and Photographic divisions we continue to achieveencouraging take-up of new product lines. Our Broadcast divisions are pursuingopportunities arising from the increasing adoption of High Definition TV, withencouraging conditions in Broadcast Camera Support; however the Broadcastintercoms market remains difficult. Our Photographic division continues tobenefit from the growing digital SLR camera market. The benefits of the manufacturing and commercial restructuring actions we tookin 2003 and 2004 are being delivered as anticipated and the integration of therecent Kata acquisition is progressing well. Order intake remains satisfactory and the Board views the outlook for the fullyear with cautious optimism. Enquiries: The Vitec Group plc: 020 8939 4650Gareth Rhys WilliamsAlastair Hewgill Financial Dynamics: 020 7269 7291Richard Mountain Notes to editors: 1. The company will host a telephone conference for analysts at 8.00am today. Please contact Richard Mountain at Financial Dynamics for details. 2. The interim results are expected to be released on 5 September 2005, in accordance with International Financial Reporting Standards. 3. Whilst Vitec has significant production and sourcing in US dollars and has hedging arrangements in place, movements in the $/£ and, particularly, $/• rates can have a significant impact on reported results. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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