Broadcast products group Vitec reported growth in profits and margins in the first half but said it was difficult to predict what the future held.
Revenues in the six months to the end of June were up 2.7% to £176.5m.
Profits came in at £17.5m, up 15.2% on the previous year, and the firm increased its interim dividend 6.3% to 8.5 pence per share.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Growth in the firm's Broadcast & Video and Photographic businesses offset a poor performance from the Staging business - now sold - and significantly lower sales to the military, aerospace and government markets.
Vitec recorded a net finance expense of £1.4m, £1m higher than last year, reflecting the higher levels of net debt mainly due to acquisitions that were funded using private placement debt facilities.
"Although the macroeconomic environment remains uncertain and our order book visibility is limited, the Board's expectations for the full year remain unchanged," said Chief Executive Stephen Bird.
-
73% of savers plan to rely on partner’s pension in retirementA new survey suggests the majority of people may lack financial independence in retirement, with almost three-quarters set to rely on their partner’s pension
-
How much you need to follow the 25x retirement rule – will you have enough to be financially independent?We explain what the 25x retirement rule is and the amount you would need to be financially independent in retirement.
