Vitec On Track For Full Year As Second Half Meets Expectations

LONDON (Alliance News) - The Vitec Group PLC Wednesday said it remains on track to meet its expectations for the year, with trading in the second half in line with its own forecasts.

The company, which supplies products and services for the broadcast and video, photographic, military, aerospace and government markets, said trading since its half-year results in June has been in line with its forecasts.

Its Videocom broadcast equipment division is faced with mixed market conditions, hit by the timing of major contracts and weakness in Europe and the Middle East, but it has been boosted by a strong performance for its Teradek video encoders business. It said it was making good progress with the integration of Autocue Group Ltd, having completed the acquisition last month.

Vitec said its imaging and services arms both performed in line with expectations, despite the imaging business facing a still difficult photographic market.

Vitec will publish its full year results to the end of December on February 25, 2015.

Vitec shares are up 1.1% to 596.5 pence on Wednesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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