Trading Statement
23 Décembre 2003 - 8:00AM
UK Regulatory
RNS Number:5795T
The Vitec Group PLC
23 December 2003
23 December 2003
The Vitec Group plc
Pre Close Trading Update,
Termination of Discussions with EVS Broadcast Equipment
and Acquisition of Distribution Activities of Multiblitz
As set out in the circular of 10 December relating to the disposal of ALU, The
Vitec Group plc ("Vitec"), the international supplier of products, services and
solutions to the Broadcast, Entertainment and Media industries, confirms that,
since its announcement on 1 September, trading and the outlook for the Group has
continued to meet Directors' expectations.
In addition, further to the announcement on 28 November, Vitec announces that it
is no longer in discussions with EVS Broadcast Equipment regarding the possible
acquisition of this business. There will be an exceptional charge of some #0.9
million for the related costs in the full year accounts.
The company also announces that it has agreed to acquire the business and assets
of the domestic distribution activity of Multiblitz (Dr. Ing. D.A. Mannesmann
Gmbh & Co), the long-standing distributor of the Group's Manfrotto products in
Germany. The net assets of the business were EUR 0.8m as at 31 December 2002.
-Ends-
Contacts:
Gareth Rhys Williams Telephone: 020 8939 4650
The Vitec Group plc
Rob Gurner Telephone: 020 7831 3113
Financial Dynamics
Notes to Editors
The Vitec Group supplies a wide range of equipment and services to the
broadcasting, entertainment, photographic and retail display industries. Its
products are distributed in nearly 100 countries, either through dealerships or
direct to the end user or corporate sector, and it has manufacturing facilities
in five countries. The Vitec Group is a major force in its chosen specialised
fields. More information can be found at: www.vitecgroup.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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