The year saw strong turnover growth as a result of a
number of new products being introduced into growing
markets. Photographic continues to benefit from an
increase in demand for digital SLR cameras, whilst the
Broadcast market is slowly improving.
We start 2005 in a much stronger position than at the
same time last year, with higher order books and rising
volumes. Going forward, Vitec remains exposed to
fluctuations in the US dollar, but, as a result of
restructuring actions taken in recent years, the Group
is now in better shape. Overall the Board views the
outlook for 2005 with cautious optimism.
'Consolidate' and 'Leverage' is moving to 'Grow'
- Strong sales growth; 18% in constant currency, 8.8% in £ sterling terms
- Profit before tax, exceptional items, goodwill amortisation and impairment increased by 30% in constant currency, 0.6% in £ sterling terms
- Two businesses acquired during the year, both fully integrated
- Continued strong cash generation
- Enhanced financing arrangements in place
- Recommended final dividend of 8.9p per share, making a total of 15p per share, in line with expectations.
* before exceptional items, goodwill amortisation and impairment.
** 2001 restated for FRS 19 'Deferred Tax Standard'.
Manfrotto products are trusted by professional photographers and filmmakers to stand up to the most demanding situations. That's why you'll see their gear used in some extraordinary places, from the Space Shuttle to the bottom of the sea.
Information correct at 13/04/05