LONDON (ShareCast) - (ShareCast News) - Vislink said swung to a loss in the first half on the back of restructuring costs.
For the six months ended 30 June, the company made a pre-tax loss of £881,000 compared with a profit of £2m in the first half of last year. It attributed the loss to non-recurring restructuring costs of £1.7m in the hardware division.

Revenue fell to £26.6m from £27.1m due to a disappointing performance from Vislink Communications Systems, although this was partially offset by Pebble Beach Systems.

However, the company said a significant restructuring of its hardware division, coupled with investment in new products and an increasing order pipeline, provides an encouraging platform for improved results from Vislink Communication Systems.

Vislink is a technology business specialising in solutions for the capture, management and delivery of high-quality video for the broadcast and surveillance markets.

Executive chairman John Hawkins said: "We continue to transition to a software and services business represented by the evolving profit mix and strengthened margins within the business. Pebble Beach Systems has had a strong financial performance in this half year with better operating margins, and it continues to expand its sales activities through its key partnerships."

At 1000 BST, Vislink shares were down 16.7% at 45p.

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