Business
2010 Full Year Results
2010 Full Year Results.
About this update from Videndum Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 2340C The Vitec Group PLC 03 March 2011 \n \n\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 \n3 March 2011\nThe Vitec Group plc\n \n2010 Full Year Results\n \nInvesting for growth in our three markets\n \nThe Vitec Group plc (\"Vitec\"), the international provider of products and services for the broadcast, photographic, and MAG (military, aerospace and government) markets, announces its full year audited results for the year ended 31 December 2010.\n \n\n\n\n\nResults\n\n\n2010\n\n\n2009\n\n\n% Change\n\n\n% Change\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOrganic CER**\n\n\n\n\nRevenue \n\n\n£309.6m\n\n\n£315.1m\n\n\n-2\n\n\n+4\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBefore significant items*\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit \n\n\n£27.7m\n\n\n£24.5m\n\n\n+13\n\n\n+3\n\n\n\n\nProfit before tax\n\n\n£26.7m\n\n\n£22.7m\n\n\n+18\n\n\n+7\n\n\n\n\nBasic earnings per share\n\n\n41.9p\n\n\n36.5p\n\n\n+15\n\n\n+4\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAfter significant items*\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating profit \n\n\n£22.6m\n\n\n£2.9m\n\n\n+679\n\n\n\n\n\n\n\nProfit before tax\n\n\n£21.7m\n\n\n£1.8m\n\n\n+1106\n\n\n\n\n\n\n\nBasic earnings per share\n\n\n42.8p\n\n\n7.5p\n\n\n+471\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFree cash flow+\n\n\n£18.0m\n\n\n£22.7m\n\n\n-21\n\n\n\n\n\n\n\nNet debt\n\n\n£28.1m\n\n\n£40.6m\n\n\n-31\n\n\n\n\n\n\n\nTotal dividend per share\n\n\n19.0p\n\n\n18.3p\n\n\n+4\n\n\n\n\n\n\n\n \nv Key points \n· Broadcast and Video markets return to growth\n· Underlying organic CER revenue growth of 4.3%\n· Operating profit up 13.1% despite £7.9 million profit impact from the end of BAS contract\n· Reported PBT before significant items up by 17.6%, organic CER up 6.9%\n· IMT business focused on the MAG opportunity: Auction 66 contract wins\n· Launch of Manfrotto Powerbrand products at Photokina \n· Total dividend increased 3.8% to 19.0 pence per sha...