A new Vitec Group report has emerged and Devencroft have done an excellent job summarising Vitec’s 2015 finical year results.
Vitec owns over a eighteen camera gear and accessory companies such as Anton/Bauer, Autocue, Autoscript, Camera Corps, Teradek, Haigh-Farr, Litepanels, OConnor, Paralinx, Petrol Bags, Sachtler, SmallHD, Vinten and Vinten Radamec as well as the broadcast technical company Bexel.
Vitec companies now mainly manufacture out of China, Italy, Costa Rica, the UK & USA.
Thanks to merger and acquisitions of companies such as Paralinx and SmallHD, Vitec’s revenue was up around 75% from 2014.
Total revenue was £317.8 million, an increase of 2.6% versus 2014. Operating profit was £35.4 million, a decline of 8.8% versus last year. On a constant currency basis, revenue increased 1.3% and operating profit decreased 1.8%.
Vitec will now concentrate looking for acquisitions primarily in the Capture and Sharing divisions.
Read the full Vitec Group’s 2015 finical report PDF HERE.