The Vitec Group expects to take one-off US tax charge
Source - SMW
The Vitec Group said recent tax cuts in the US were expected to generate a non-cash charge for the company in 2017 of around £7.0m.
The charge was related to a re-valuation of the company's US deferred tax balances and would be excluded from adjusted earnings.
The company also said changes to the way it calculates adjusted performance measures would result in an increase in its 2017 adjusted earnings of around £3.0m.
Net debt at December 31 was also expected to be lower than current market estimates, it added.
At 8:01am: (LON:VTC) Vitec Group The PLC share price was +10p at 1102.5p