The Vitec Group made very good progress in 2006, with strong revenue and profit growth. We have launched exciting new products into growing markets and are seeing the benefits of our consolidated operational structure. 2007 will not see any benefit from major events for our broadcast businesses. However, given the increasing importance of Vitec's photographic and live entertainment businesses, combined with the contribution from acquisitions made in 2006 and further operational improvements within Broadcast Systems, the Board looks forward to further growth in 2007.
- Revenue growth of 15% in constant currency, of which 12% was organic
- Profit before tax* of £24.1 million, an increase of 35% in constant currency, 31% as reported
- Basic earnings per share* of 35.3p, up 36%
- Cash generated from operations of £28.7 million
- Imaging & Staging division sales up 24%
- Two further significant acquisitions: Autoscript prompters and Tomcat Global staging systems, both performing to plan
- Total dividend recommended of 16.5p per share, up 6%
* from continuing operations and before significant items (see Note 5 to the Consolidated Accounts).
** For 2002 and 2003, before exceptional items, goodwill amortisation and impairment. For 2004, 2005 and 2006 before significant items (see Note 5).
2002 and 2003 figures include results for Alu which was sold in 2003.
Accounts for 2006, 2005 and comparable figures for 2004 were prepared in accordance with IFRS as adopted for use in the EU. Accounts for 2003 and 2002 were prepared in accordance with UK GAAP accounting policies.
Information correct at 17/04/2007