Business
Half Year results to 30 June
Half Year results to 30 June.
About this update from Videndum Plc
[{"type":"text","content":"\n RNS Number : 9977X The Vitec Group PLC 26 August 2009 \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\n26 August 2009\nThe Vitec Group plc\nHalf Year results to 30 June 2009\nRobust position in challenging markets\n\nThe Vitec Group plc, the international supplier of products, services and solutions to the Broadcast, Photographic, and Entertainment industries, announces its results for the half year ended 30 June 2009.\n\n\n\n\n\n\nResults\n\n\nH1 2009\n\n\nH1 2008\n\n\n% Change\n\n\n% Change\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAt CER**\n\n\n\n\nRevenue \n\n\n£160.8m\n\n\n£159.1m\n\n\n+1\n\n\n-19\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£11.0m\n\n\n£18.8m\n\n\n-41\n\n\n-62\n\n\n\n\nProfit before tax\n\n\n£10.2m\n\n\n£17.3m\n\n\n-41\n\n\n-63\n\n\n\n\nBasic earnings per share\n\n\n16.6p\n\n\n27.5p\n\n\n-40\n\n\n-63\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£3.4m\n\n\n£13.8m\n\n\n-75\n\n\n-92\n\n\n\n\nProfit before tax\n\n\n£3.1m\n\n\n£12.6m\n\n\n-75\n\n\n-93\n\n\n\n\nBasic earnings per share\n\n\n6.1p\n\n\n24.6p\n\n\n-75\n\n\n-91\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nOperating cashflow***\n\n\n£9.2m\n\n\n£(0.9)m\n\n\n\n\n\n\n\n\n\n\nNet debt\n\n\n£52.6m\n\n\n£50.3m\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nInterim dividend per share\n\n\n7.4p\n\n\n7.4p\n\n\n\n\n\n\n\n\n\n\n\n\nKey points\n\n· Very challenging markets\n· Decisive management action to restructure business and reduce costs delivering total annualised savings of £22m, while protecting ability to benefit from an economic recovery\n· Good operating cash flow generation of £9.2m\n· Balance sheet remains healthy with net debt virtually constant at £52.6m\n·&nbs...