News & Media
Visonic Limited Trading Update
Visonic Limited (LSE: VSC.L; TASE: VSC.TA) (“Visonic” or the “Group”), the international developer and manufacturer of electronic security systems (alarms) and home management systems, is pleased to announce the following trading update.
Sales in the second six months of the year to 31 December 2008 were US$40.3m, up 8% compared with the same period in 2007 and total sales for the full twelve months to 31 December 2008 were up 14% to US$85m, compared to 2007.
However, despite sales being in line with expectations in the second half (and indeed for the year as a whole) the Group’s operating results and margins were adversely impacted, particularly during the fourth quarter, by the devaluation of the Euro and Sterling against the US Dollar (the Group’s reporting currency).
