Vitesse Media Plc (“the Company”), the AIM listed media business, today issues the following update ahead of the announcement of its full year audited results to 31 January 2012.
The Company has traded broadly in line with market expectations and a small pre-tax trading loss is anticipated. This reflects the continuing challenges presented by the media sector and an accelerated investment in transitioning the business to digital media platforms.
The period saw the conclusion of major IT infrastructure development and the acceleration of our transition to digital delivery. The management continues to review its cost base and remains confident that with the developments and actions undertaken over the last twelve months the business is well positioned to weather the current market challenges without diminishing its ability to achieve good growth as volume recovers.