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Vitec to take hit from coronavirus

Vitec to take hit from coronavirus

As a provider of premium-branded broadcast and photographic equipment, Vitec (VTC) was, perhaps, an inevitable corporate victim of the coronavirus outbreak. While the group does not own any manufacturing sites in China, it has 25 suppliers of finished goods in the country which supply products pertaining to about a quarter of group revenues. Another quarter of group revenues comes from products made in northern Italy – where there has recently been a spike in the number of reported infections. It follows that, for now, Vitec estimates a total dampener of £3m-£5m on operating profits for the first half and 2020 full-year.

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