Share Prices & Company Research

Market News

06 May 2021 | 12:55

Vitec shares hit record on forecast-beating profit

(Sharecast News) - Vitec shares soared to a record after the camera equipment company said it expected annual profit to be well above expectations. The company said trading performance had improved faster than it expected even though some markets, particularly production sets in the US were not fully open and it was expecting some component shortages and capacity constraints.

"As a result, the board now expects the group's adjusted PBT [profit before tax] for 2021 to be materially above current market expectations," Vitec said in a statement before its annual general meeting.

Vitec shares rose 11.9% to £15.55 at 12:55 BST - an all-time high. The shares have more than doubled in the past year from 670p.

Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 7th October 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.