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Equipment and solutions provider to the broadcast, photographic and entertainment markets the Vitec Group reported a 2.2% drop in half-year revenue amid photographic headwinds and the impact of US/China tariffs.
However, it left its 2019 outlook unchanged with revenue weighted, as expected, to the second half.
Revenue in the six months to 30 June fell to £184.2m from £183.3m a year earlier on a constant exchange basis while adjusted pre-tax profit slumped 4% to £23.5m. However, the company said this was a 'robust' performance in a non-Olympic year.
The company hiked its interim dividend per share 7% to 12.3p for the period.
'We are pleased to confirm that our outlook for the current year is unchanged, whilst we remain mindful of geopolitical challenges and FX movements. Notwithstanding these uncertainties, we continue to expect a strong 2020, benefitting from the summer Olympics, US Presidential elections and the targeted growth initiatives already underway,' said group chief executive Stephen Bird.
At 8:17am: (LON:VTC) Vitec Group The PLC share price was -17.5p at 1097.5p