LONDON (ShareCast) - (Sharecast News) - Camera equipment maker Vitec received a boost from the PyeongChang Winter Olympics as first half operating profits rose 16.7% to £25.5m and revenues grew 16% to £183.3bn.
The interim dividend was increased to 11.5p from 10.4p.

Vitec, which recently acquired JOBY and Lowepro, told investors that the integration of both businesses was on track and that new products launched by its production solutions unit had been well received since moving its operations to a new manufacturing site in Bury St Edmunds.

The firm's production solutions' revenue increased 2.5% to £57.1m as a result of the Winter Olympics, strong sales of Litepanels Gemini lights and Flowtech tripods.

"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. The board's expectations for the full year are unchanged, with material EPS growth," said chief executive Stephen Bird.

Vitec shares were down 1.02% to 1,286.70p.

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