Vislink, the Dublin-listed company which supplies satellite transmission products and CCTV systems, has reported a 'significant' improvement in its trading performance for the first six months of the year.
The company said its pre-tax profits for the six months ending June 30 rose to £2.09m sterling from £447,000 the same time last year - boosted by the purchase of Link Research Limited last February.
Orders increased by 66% to £46.9m compared with the first six months of 2004. Group sales from continuing operations were up 19% to £35.75m from £30.11m the same time last year.
The company's US broadcast business, MRC, has seen its order intake increase to £32.45m, up from £14.7m the same time last year. Vislink's UK broadcast business saw its sales rise to £14.41m from £12.63m. The core UK satellite business has now been stablised after trading losses in 2004.
Vislink's Norwegian based marine safety business Hernis made a good start to the year, with orders up 32% to £5.68m due to the growth in the offshore oil and gas markets and the marine LNG tanker market.
'All the businesses are trading ahead of last year at the operating profit level and the synergies and benefits from the acquisition of Link are already showing through,' commented Bob Morton, Chairman of Vislink.
'The Board is encouraged by the current level of trading, the significant orders won by the broadcast business and Hernis and continues to look forward to the rest of the year with confidence,' he added.
