Sales down at transmission products company Vislink

Microwave radio and satellite transmission products company Vislink has announced a decline of 11.5% in sales, due largely to a downturn in sales in the UK.

The company's products are used in the broadcast and security markets and integrated CCTV systems for marine security and petroleum markets.

Group sales declined to £30.11m (€44.5m) from £34.04m (€50.3m) in 2003. Adverse rates of foreign exchange were responsible for £2.2m (€3.2m), or 6.5%, of the reduced sales, while the balance was as a result of lower sales from the UK broadcast business.

Bob Morton, Chairman of Vislink said: "The board is carrying out a strategic review of the UK business where further rationalisation to lower its cost base, combined with the weak level of demand in its other markets, will have an adverse effect on the group’s profits for the full year.”

The group is, however, seeing growth from its US broadcast business MRC and its Norwegian marine safety business Hernis in their local currencies. MRC has seen increasing demand from the emerging public safety and government markets

The group’s operating profit from continuing operations before goodwill was £0.46m (€679,000). The figure was £1.1m (€1.6m) in 2003.

Earnings per share from continuing operations excluding goodwill amortisation and exceptional costs were 0.16 pence (2003 – 0.58 pence). The basic loss per share was 0.40 pence (2003 – earnings per share of 0.01 pence).