Business
2008 Post-close statement
2008 Post-close statement.
About this update from Videndum Plc
[{"type":"text","content":"\n RNS Number : 6684L The Vitec Group PLC 15 January 2009 \n \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO THE SAME WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. \n\n15 January 2009\n\nThe Vitec Group plc\n\n2008 Post-close statement \n\nThe Board of The Vitec Group plc ('Vitec') makes the following statement relating to the year ended\n31 December 2008 and provides an Outlook for 2009. Its preliminary results will be announced on 2 March 2009.\n\n2008 results\n\nGroup sales in 2008 are expected to be around £335m, approximately 22% higher than 2007. In constant currency, before acquisitions, Group sales increased by around 4%. The Board expects the Group's results for 2008 to be in line with its expectations, despite redundancy costs of around £1m incurred in December. \n\nDivisional performance\n\nIn Broadcast Systems, 2008 sales grew around 32%, with a strong performance from Camera Dynamics and RF Systems (which contributed 12 months of sales compared with 7 months in 2007). In constant currency, before acquisitions, sales increased by around 5%. RF Systems enjoyed the benefits of market share growth and the volume flowing from the BAS relocation programme in the United States (product sales for which are scheduled to cease in August 2009). Of the two smaller units, Communications revenue grew strongly while Mobile Power performed significantly below last year's level. Litepanels, acquired in late August 2008, made a very encouraging start. \n\nIn Imaging & Staging, 2008 sales grew approximately 16%, helped by bringing in-house\nUK distribution, the launch of many new products, and the positive effect of foreign exchange translation. In constant currency, before acquisitions, sales increased by around 4%. Approximately\none third of the division's sales are to keen amateur photographers who buy digital SLR cameras, a market ...