StockMarketWire.com - Vitec Group, which provides products to the broadcast and photographic markets, posted a 20% rise in first-half profit after the Winter Olympics helped boost sales and margins expanded.

Pre-tax profit for the six months through June rose to £19.7m, as revenue rose 11% to £183.3m.

The company declared an interim dividend of 11.5p per share, up 11% on-year.

Vitec said it still expected to post "material' earnings per share growth for the full year. EPS in the first half grew 19.4%.

'Vitec continued to make good progress, delivering record first half profit and earnings per share for shareholders,' chief executive Stephen Bird said.

'We are seeing the benefits of the actions taken last year to streamline the group's portfolio, acquire new product lines and restructure into three divisions.'

'Vitec has a diversified product portfolio with strong positions in the fast moving and growing image capture and content creation market.'

'We remain on track in the second half of the year; we expect to deliver organic revenue growth and year-on-year margin improvements, and to identify businesses to acquire in core and adjacent markets.'


At 8:24am: [LON:VTC] Vitec Group The PLC share price was -5p at 1295p



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