The Vitec (GB:VID) has released an update.
Videndum PLC, a leading provider of premium hardware and software for content creation, reported revenues aligning with expectations for the first half of 2024, despite slower recovery in the cine and scripted TV market. The company’s net debt decreased to approximately £118 million, with a positive outlook for the second half of the year, bolstered by expected benefits from the Summer 2024 Olympic Games and the US Presidential election. Amidst renegotiated credit facilities and challenging macroeconomic conditions, Videndum remains focused on tight cost, capital expenditure, and working capital control, with no dividend declaration anticipated until after March 2025.
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