Vitec Group is hoping for an improved second half following a deepening of its cost-cutting programme in the first half under Stephen Bird, the new chief executive.

The group, which supplies cameras and lighting equipment to the broadcast and entertainment industries, has been hurt by the downturn, particularly in the US. About 40 per cent of the group’s revenue comes from the broadcast market, which is dependent on advertising and has been hit by the deferral of major projects.