Results round-up

Volution Group said expected full-year results to be in line with the board's expectations as recent acquisitions boosted revenues.

Volution's revenues increased 11.3% to £206m - 2.9% of which was organic, while the remaining 8.4% growth came from the acquisitions of Simx, Oy Pamon, Air Connection and AirFan.

Organic growth benefitted from a stronger performance in Britain, most notably in the group's residential new build and UK exports divisions.

Volution's private residential RMI growth came in at 3.3% during the year ended 31 July despite disruptions caused by the commissioning of its new manufacturing facility in Reading.

The London-listed group cautioned that, due to the ongoing difficult market conditions, its public residential RMI revenues had declined 10.4% but, stated it was "starting to gain momentum" for the turnaround of the unit.

Revenue in the Nordics grew by 19.2%, while Australasia added an extra 4.4% to the firm's growth.

"Whilst there is continuing uncertainty in the UK economy as a consequence of plans to leave the EU, our increasing market and geographical diversity, together with significant investment in new product innovation, gives us confidence for the year ahead," said chief executive Ronnie George.

Elsewhere, Volution warned investors that its new facility in Reading, set to be launched in July 2018, had taken longer than anticipated to prepare, causing additional costs.

"Over the coming months we will finalise this project, and once fully completed, it will provide us with the anticipated significant increase in injection moulding, ducting extrusion and fan assembly capacity to further underpin future growth," the group said.

Camera equipment maker Vitec received a boost from the PyeongChang Winter Olympics as first half operating profits rose 16.7% to £25.5m and revenues grew 16% to £183.3bn.

The interim dividend was increased to 11.5p from 10.4p.

Vitec, which recently acquired JOBY and Lowepro, told investors that the integration of both businesses was on track and that new products launched by its production solutions unit had been well received since moving its operations to a new manufacturing site in Bury St Edmunds.

The firm's production solutions' revenue increased 2.5% to £57.1m as a result of the Winter Olympics, strong sales of Litepanels Gemini lights and Flowtech tripods.

"We remain on track in the second half of the year; we expect to deliver organic revenue growth and year-on-year margin improvements, and to identify businesses to acquire in core and adjacent markets. The board's expectations for the full year are unchanged, with material EPS growth," said chief executive Stephen Bird.