Vitec ahead of expectations

Broadcast and photographic equipment supplier Vitec says that trading is stronger than expected. The evidence of the period between the 1 July and 21 October is enough to suggest that Vitec will report better than expected 2010 figures. Analysts had been forecasting a 2010 profit of £23m-£24m. Even so, order visibility is limited and currencies are volatile. Imaging has been a strong and Vitec is employing additional people in order to increase capacity. The broadcast division had some benefit from contracts put off from 2009 but there is underlying growth. The microwave business has won another order from the FBI, worth $4.2m. The services division is trading well above 2009 levels. Net debt has fallen from £35.3m to £30.9m in the three months to September 2010.