The Vitec Group plc (Vitec) is an international provider of products and services for broadcast, photographic and military, aerospace and government (MAG) markets. Vitec operates in three segments: Videocom, Imaging and Services. Videocom division specializes in the supply of equipment principally for professionals engaged in producing video content for the media industries globally, broadcast, film and live events. Its Imaging division provides photographic and videographic equipment to both professional and non-professional users. The photographic and videographic equipment consists primarily of camera supports, tripods, equipment bags, lighting supports, light emitting diodes (LED) lights and lighting accessories. Its Services division provides broadcast equipment and engineering support for the broadcast and media productions. In April 2012, it acquired the entire share capital of Camera Corps Limited. In August 2012, the Company exited its Staging business








2012 key company dates:
1 March 2012 Annual Results released
18 April 2012 Ex-dividend date for final dividend
20 April 2012 Record date for final dividend
8 May 2012 Interim Management Statement and Annual General Meeting
11 May 2012 Payment of final dividend
22 August 2012 Half Year Results released
22 August 2012 Announcement date
26 September 2012 Ex-dividend date
28 September 2012 Record date
1 October 2012 DRIP mandate deadline
26 October 2012 Interim dividend payment date

Half Yearly Report

Key Points




●

Half year results in line with the Board's expectations


●

Good performance considering challenging markets and currency headwinds


●

Revenue 3.8% higher and operating profit* up 6.3% at constant exchange rates


●

Operating margin* maintained on lower revenue


●

Continued market outperformance in Photographic business


●

Decision to focus Videocom on core broadcast activities and exit IMT


●

Interim dividend increased 4.5% to 9.3 pence per share




http://www.moneyam.com/action/news/showArticle?id=4868314

Director/PDMR Shareholding

RNS


RNS Number : 4383P

The Vitec Group PLC

18 August 2014








18 August 2014



THE VITEC GROUP PLC





Notification of Transactions of Directors and Persons Discharging Managerial Responsibility (PDMRs)





Purchase of shares by Stephen Bird



The Vitec Group plc ("the Company") announces the following purchase of shares that were completed on 18 August 2014.



Mr Stephen Bird, Group Chief Executive, purchased 10,000 ordinary shares of 20 pence each at £5.65 per share. These shares will be held beneficially by Mr Bird in his SIPP.



Mr Bird now holds 240,054 ordinary shares, of which 67,228 shares have been purchased in the market using funds supplied by Mr Bird and are held by Computershare Trustees (Jersey) Limited, the Trustee used to hold shares in respect of awards made under The Vitec Group 2005 Deferred Bonus Plan.

Acquisition
RNS
RNS Number : 5915T
The Vitec Group PLC
07 October 2014



NOT 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.







7 October 2014



The Vitec Group plc







Completion of the acquisition of autocue group limited



The Vitec Group plc, the international provider of products and services for the Broadcast & Video, Photographic, and MAG markets, announces that it has yesterday completed the acquisition of Autocue Group Limited previously mentioned in our Interim Management Statement of 8 May 2014, following the Competition and Markets Authority's decision not to refer the acquisition to a Phase Two Review under the provisions of the Enterprise Act 2002.





Jon Bolton

Group Company Secretary

Interim Management Statement

RNS


RNS Number : 7721W

The Vitec Group PLC

12 November 2014






12 November 2014

The Vitec Group plc

Interim Management Statement





The Vitec Group plc ("Vitec" or the "Group"), the international provider of products and services for Broadcast & Video and Photographic markets, announces the following Interim Management Statement for the period from 1 July 2014 to 11 November 2014. The comments on trading relate to the period from 1 July 2014 to 31 October 2014.

The Group's trading since the Half Year results has been in line with our forecast and we remain on track to meet the Board's expectations for the Full Year.

The Videocom Division performed well in continued variable markets, reflecting the timing of major contracts, a strong performance by Teradek but weakness in European and Middle Eastern markets. We are making good progress with the integration of Autocue Group Limited following completion of its acquisition in October 2014. In early November, we exited from the loss-making IMT business through the sale of its assets (see note 3).

The Imaging Division performed in line with our expectations in what remains a difficult photographic market. It continues to make good progress through the launch of new products which received positive feedback at Photokina, the international photography exhibition in Cologne.

The Services Division traded in line with our expectations.



At 31 October 2014, Group net debt was £77.8 million, after payment of the interim dividend of £4.1 million and net cash outflow of £6.1 million relating to the Autocue acquisition. This compares to net debt of £68.0 million at 30 June 2014. The Group has made six successful acquisitions in the last four years and continues to review further value adding additions to the Group's activities.

Vitec is scheduled to release its full year results announcement on 25 February 2015.

Key Points

•
Full year performance in line with the Board's expectations

•
Revenue 3.3% higher and profit before tax* up 9.1% at constant exchange rate

•
Operating margin* maintained at 12.5%

•
Significant strategic progress with three value-adding acquisitions and exit from IMT

•
Group now focused on Broadcast and Photographic Divisions

•
Well positioned to benefit from any market upturn






Finall results

Trading Update
RNS
RNS Number : 8414M
The Vitec Group PLC
12 May 2015

12 May 2015



The Vitec Group plc

Trading Update





The Vitec Group plc ("Vitec" or the "Group"), the international provider of products and services for the Broadcast and Photographic markets, announces the following trading update for the first four months of the financial year, ahead of the Annual General Meeting to be held later today.

The Group performed satisfactorily in the first four months of the year. Market conditions remain challenging although showing some signs of stabilisation. The Board remains confident about the mid-term prospects for the Group and its expectations for the full year remain unchanged.

As previously reported, Vitec's first half results will reflect the non-repeat of the significant performance at the 2014 Sochi Winter Olympics and a negative impact from foreign exchange; consequently, the first half results are expected to be lower than the same period last year. A stronger performance is anticipated in the second half of the year as the Group's markets start to recover, supported by new product sales. The foreign exchange impact principally reflects the unwinding of previous cash-flow hedges put in place as part of the Group's well-established hedging policy. If exchange rates remain at current levels, Vitec will benefit from a stronger US dollar, partially offset by a weaker Euro, from 2016 onwards.

The Broadcast Division performed broadly in line with the same period last year in variable market conditions after adjusting for foreign currency and the non-repeat of the Winter Olympics. In February 2015, Vitec acquired the business and net assets of Paralinx, a US producer of high quality wireless video systems, for a net cash consideration of up to £4.1 million ($6.3 million). This business has been successfully integrated into the Teradek wireless products business.

The Photographic Division traded in line with our expectations. The Division continues to benefit from the release of new products including its ranges of tripods and bags and the recent launch of the iPad-based Manfrotto Digital Director which has received positive feedback from customers.

At 30 April 2015, Group net debt was as expected at £86.3 million, reflecting seasonality and after £8.7 million of cash outflows relating to acquisitions as well as the impact of foreign exchange on US dollar debt, and cash spent on the previously announced restructuring. This compares to net debt of £70.9 million at 31 December 2014.

"Investing For Growth" Presentation

On 22 April 2015 the Group held a presentation for institutional investors and analysts on "Investing for Growth". Copies of the presentation slides are available on the Group's website.

The presentation reviewed how Vitec has been streamlined and strengthened over the last four years and is well placed to drive sales growth as its markets recover. The summary points were:

· Core Broadcast and Photographic markets are showing some signs of stabilising and are expected to grow in the mid-term;

· Vitec is well placed to capitalise on these markets given its strong brands, market positions and global distribution;

· There is a clear strategy focussed on improving the core business, including sales to independent content creators; expanding Vitec's presence and sales in APAC; and continuing to make value-adding acquisitions;

· Vitec has a strong platform to succeed with an improved new product development process, a greater technology focus and a stronger organisation.



Half Year Results



Vitec is scheduled to release its half year results announcement on Thursday 6 August 2015.

Half year report

09:50 05/04/2017
Broker Forecast - Peel Hunt issues a broker note on Vitec Group (The) PLC
Peel Hunt today reaffirms its buy investment rating on Vitec Group (The) PLC (LON:VTC) and raised its price target to 950p (from 850p). Story provided by StockMarketWire.com

Trading Update - Continued Progress
RNS
RNS Number : 6653E
The Vitec Group PLC
10 May 2017
 
 

 
 
10 May 2017                
The Vitec Group plc
Trading Update
 
Continued Progress
 
The Vitec Group plc ("Vitec" or the "Group"), the international provider of products and services for the Broadcast and Photographic markets, provides the following update on trading for the first four months, the disposal of Haigh-Farr, Inc. and full year outlook.
 
Current trading performance
The Board is encouraged with performance during the period from 1 January 2017 to 30 April 2017. Positive momentum has been maintained and we are performing slightly ahead of our expectations, mainly due to continued organic sales growth and a further benefit from foreign exchange.
Our higher technology broadcast businesses continued to grow, supported by a number of new product launches. The Photographic Division has started the year well and continued to outperform the market.
Disposal of Haigh-Farr, Inc.
On 9 May 2017 we sold our non-core Haigh-Farr defence antennas business based in New Hampshire, USA, to Haigh-Farr Acquisitions, Inc., which is owned by Haigh-Farr's current management, David and Norene Farr. This deal was completed for an initial cash consideration of $15.8 million (£12.2 million); there is a further potential earn-out of up to $10 million in cash depending on future performance of the business. The net cash proceeds will be used to pay down Group borrowings.
Haigh-Farr generated an operating profit of $2.1 million (£1.5 million) in 2016 on sales of $12.9 million (£9.6 million). As at 31 December 2016, net assets1 were $20.8 million (£16.8 million) and gross assets1 were $22.8 million (£18.4 million). The disposal is expected to be slightly dilutive to adjusted earnings per share for the current financial year.
This disposal allows Vitec to continue to focus on driving growth in its core, premium branded broadcast and photographic markets.
Net debt
 
Vitec's balance sheet has been further strengthened by continued strong cash generation over the first four months of the year. Net debt as at 30 April 2017 was £70.8 million (31 December 2016: £75.1 million) and this will be reduced by the net cash consideration received from the disposal of Haigh-Farr.
 
The Group will repay the $50 million private placement facility when it expires on 11 May 2017. For the remainder of 2017, it is anticipated that this will lead to a £0.7 million reduction in the Group's ongoing financing costs.
Full year outlook
Overall, the Board now expects Vitec's full year results to be slightly ahead of current market consensus. This is the result of good underlying trading, a continued tailwind from foreign currency translation and lower financing costs more than offsetting the ongoing profit impact from the sale of Haigh-Farr.
Stephen Bird, Group Chief Executive, commented:
"Our performance in the first four months demonstrates the continued progress made to transform the Group. We are outperforming our markets and our higher technology businesses continue to grow.
As a result, we are pleased to increase our outlook for the current year."

Vitec Group reveals recent acquisitions
StockMarketWire.com
The Vitec Group announced that on 22 September 2017 it acquired certain assets and liabilities, primarily comprising the JOBY and Lowepro brands, from the DayMen Group, for $10.3m (£7.6m), on a debt/cash free basis, with an expected total investment of $32m (£23.7m), including deal costs.

Vitec also announces that on 20 September 2017 it acquired RT Motion Systems for up to £3.4m in cash, including deal costs. RTMotion provides wireless motor lens control systems for broadcast, cine and video cameras.



Story provided by StockMarketWire.com

31 Oct
Peel Hunt
1,300.00
Buy

Trading Statement
RNS
RNS Number : 6325W
Vitec Group PLC (The)
16 November 2017
 
 
 
NOT 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. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
 
16 November 2017
The Vitec Group plc
Trading outlook unchanged and new reporting structure
The Vitec Group plc ("Vitec" or "the Group"), the international provider of products and solutions for the broadcast and photographic markets, announces that recent trading has been in line with its expectations. It also announces that it is transitioning its structure from reporting under two to three Divisions from 1 January 2018.
 
Trading outlook
·      Trading for the four months ended 31 October 2017 was in line with our expectations.
·      The Photographic Division performed well and the market continues to show signs of recovery.
·    In the Broadcast Division, our traditional business benefitted from sales of new products, including the Flowtech tripod, and, as expected, our US studio business has had a stronger second half to date, despite challenging market conditions.  Our higher technology business continued to grow and the integration of RTMotion is going well.
·      The Board's expectations for the year ending 31 December 2017 remain unchanged.
Portfolio refinement
The JOBY and Lowepro brands were acquired from the DayMen Group in September. The business is performing to plan and is being successfully integrated into the Photographic Division.
Recent changes in the portfolio, including the acquisitions of JOBY, Lowepro and RTMotion, and the disposals of Haigh-Farr and Vitec Broadcast Services ("Bexel"), position the Group well to deliver increased margins.
Net debt
Net debt at 31 October 2017 was £48.3 million (30 June 2017: £52.6 million) and reflects strong year-to-date cash generation and net proceeds from the disposal of Bexel in August. This was offset by £13.0 million of investment in acquisitions, and working capital related to the JOBY and Lowepro acquisition.
New three divisional reporting structure
For results from 1 January 2018, Vitec will report as three distinct Divisions - Imaging Solutions, Production Solutions and Creative Solutions - to reflect a changing customer base, and to give greater focus to the fast-growing Independent Content Creator Market. 2016 comparator information will be disclosed prior to the 2017 full year results announcement.
Full year results
Vitec is scheduled to release its full year results announcement on 22 February 2018.
-Ends

Final results

Vitec Group completes acquisition of Australia's Adeal
StockMarketWire.com
The Vitec Group said it had completed the acquisition of imaging products distributor Adeal for $5.0m (£2.8m).

The acquisition was expected to be earnings neutral in 2018 and marginally accretive in 2019, the company said.

At 9:32am: (LON:VTC) Vitec Group The PLC share price was +5p at 1170p


Story provided by StockMarketWire.com

8 May
Peel Hunt
N/A
Buy
9 Apr
Peel Hunt
1,450.00
Buy

Doing very well since the start of 2017

Half year results

Highlights
•
Record Group performance in profit before tax and EPS

- Further underlying profit growth across the portfolio

- Improvement in adjusted operating margin* to 13.9% on a reported basis

- ROCE* increased to 21.7% (H1 2017: 19.4%)
•
Continued progress in driving further growth and efficiency

- JOBY and Lowepro acquisition performing in line with expectations and gaining market share; acquisition of Adeal expanded APAC distribution into Australia

- Significant number of market-leading new products launched at end of 2017 are selling well

- Further improvements to manufacturing operations across the Group including move to new Bury St Edmunds, UK site; transfer from Shelton, US to our facility in Costa Rica on track
•
Strong Balance Sheet to support organic investment and M&A
•
Full year expectations remain unchanged, with material EPS growth

Acquisition
RNS
RNS Number : 0411B
Vitec Group PLC (The)
18 September 2018

NOT 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. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

The Vitec Group plc
18 September 2018
ACQUISITION
Vitec enters adjacent audio capture market
with the acquisition of Rycote Microphone Holdings Ltd.

The Vitec Group plc ("Vitec" or the "Group"), the international provider of products and solutions to the Broadcast and Photographic markets, announces that it has acquired Rycote Microphone Holdings Ltd. ("Rycote"), for up to £8.5 million in cash.

Based in Stroud, UK, Rycote is a highly respected, market-leading brand, trusted by creative professionals, and a manufacturer of advanced noise reduction equipment for the audio capture market. Audio capture is an integral element in the creation of high quality videos and Vitec's existing customers, whether Broadcasters, Videographers or Independent Content Creators, already buy audio products. There are opportunities across all three of Vitec's divisions to sell Rycote products in conjunction with SmallHD monitors, Teradek transmitters, Flowtech tripods, Anton/Bauer batteries, JOBY GorillaPods and Manfrotto products.

Rycote's unaudited results for the year to 30 April 2018 recorded £3.1 million revenue, with adjusted EBITDA of £0.8 million.

Rycote will become part of Vitec's Creative Solutions Division, led by Nicol Verheem. Simon Davies, Rycote's Managing Director, will remain with the company post acquisition. The acquisition is in line with Vitec's strategy to enter adjacent markets.
Under the terms of the acquisition, the initial cash consideration is £6.0 million on a debt/cash free basis, including deal costs. Up to a further £2.5 million cash consideration will be payable dependent on post-acquisition performance.
The acquisition is expected to be marginally accretive to earnings in 2019.
FY2018 Outlook
We now anticipate delivering a full year 2018 performance slightly ahead of our previous expectations, given further FX benefit and revised trading expectations for the remainder of the year ending 31 December 2018.
Stephen Bird, Group Chief Executive of Vitec, commented:
"I am delighted to welcome the Rycote team to the Group.
"Vitec operates primarily in the video production market and this acquisition opens up the opportunity for us to enter the growing audio capture market, adding innovative and complementary products for our customers, and creating additional value for our shareholders.
"Rycote has exciting product development plans that will add real value to Vitec and our customers, and we look forward to developing the business."

The Vitec Group plc Capital Markets Day
On 20 September 2018, Vitec will be hosting a Capital Markets Day at its new facility in Bury St Edmunds, the head office for Vitec's Production Solutions Division.
An overview of the strategy, performance and product development highlights of our Production Solutions and Creative Solutions Divisions will be covered.
Copies of the presentations will be made available on the Group's website after the event. No material new financial information will be disclosed.
-Ends-

Ex-Dividend
19 Apr 18 Vitec Group (The) PLC [VTC] (20.1 p)
20 Sep 18 Vitec Group (The) PLC [VTC] (11.5 p)

08:50 24/09/2018
Broker Forecast - Berenberg issues a broker note on Vitec Group (The) PLC
Berenberg today reaffirms its buy investment rating on Vitec Group (The) PLC (LON:VTC) and raised its price target to 1500p (from 1420p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk