Vitec Group
Vitec makes good progress and continues to trade in line
Vitec Group PLC said it has made good progress in the ten months to October 10 2008 and continues to trade in line with management expectations.
The supplier of products and services to the worldwide media sector said in an interim management statement that if current foreign exchange rates remain the same for the rest of 2008, the effect on operating profit in 2008 against 2007 will be around £2 million more favourable than the guidance provided at the end of August 2008. Were this trend to continue into 2009, then further benefits would accrue, Vitec added.
In a separate statement, the company said interim chief executive Alastair Hewgill bought a further 64,000 shares at 155 pence each, taking his holding to 0.3 percent of the company, or 125,748 shares.








