Pretax profit for the video and data company was up to
The group said its software business is trading ahead of expectations for the year, a performance it expects to continue in the second half. The unit is expected to prove a major contributor to operating profit in the full year,
The software business was given a further boost on Tuesday after
The deal will result in a
But the strong performance from its software arm was offset by the difficulties faced in its hardware division. The unit was hit by the uncertain broadcast market environment and a delay in surveillance contracts due to longer decision-making cycles.
The group undertook a restructuring of the division in order to cut costs in the half-year and said it has seen an improving trading trend, with revenue from the division recovering towards the end of the first half.
"Whilst the broadcast market has been challenging for our hardware business, overall, we are encouraged with these results. We have taken timely action to reduce costs in our hardware division and we have seen an improved trading trend, the order book strengthened in second quarter and the orders to sales ratio is better than 1," said
"2014 represents a transitional and transformational year for the group and with the increasing focus on our software division, we believe that this will enhance the group's overall quality of earnings in 2014 and beyond. The group continues to trade in line with market expectations and the board remains confident for the future prospects for the group," Hawkins added.
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