Demand improves at Vitec

Broadcast and photographic equipment supplier Vitec expects annual pre-tax profits to be slightly ahead of the top end of the range of current market expectations as demand for its products increases. The group, which supplies camera and lighting equipment to the broadcast, military, aerospace and government markets, said trading in the period has been encouraging, with a continued improvement in demand from all three markets. Analysts expect Vitec to report annual 2011 pre-tax profit of £28-29m. Vitec said its order book visibility continues to be limited and uncertainties remain. However the group said it was encouraged by increasing demand for its products. Net debt at 30 April 2011 was £37.2m compared to £28.1m at 31 December 2010 following its £8.3m Lastolite acquisition. Initial trading at Lastolite, which was bought in March, has been in line with expectations. CJ