Half Year Results 

Vitec: a snapshot of growth to come

Vitec: a snapshot of growth to come

For chief executive Stephen Bird, Vitec (VTC) is “quite a decentralised, entrepreneurial” company, which offers considerable autonomy to its acquired businesses. This makes it an attractive parent, argues Mr Bird, to the likes of Wooden Camera, a high-margin camera accessories maker bought for £15m upfront in September 2016 (the total consideration could reach £27m). The business is performing ahead of expectations, while two recent disposals have also helped Vitec's management focus on improving margins and the top line. Vitec sold Bexel, a capital-intensive, loss-making US broadcast services provider, and Haigh-Farr, a defence antennas business with decent – but falling – margins.

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