Vislink says trading in line with board's FY expectations

20th Dec 2016 11:31

(ShareCast News) - Shares in Vislink are up almost 8% as it confirmed it was trading in line with directors' expectations for the FY.The global software and technology business anticipated Q4 would mirror the usual trading seasonailty uplift.For the nine months to 30 September, the group's total adjusted operating loss was £4.2m, from a year-earlier profit of £1.2m."Following the exceptional write-down of assets at the half year, and in light of the level of the anticipated sale consideration of VCS, as announced on 16 December 2016, there was a further exceptional balance sheet write-off of £5.3m recorded in the period," Vislink said."This brought the overall carrying value of the Vislink Communication Systems (VCS) division down to a supportable level at that time," the company added in a statement. Vislink also said the disposal of VCS remained conditional on approval by shareholders.At about 11:23 GMT, shares in Vislink were up 7.55% to 14.25p.