There has been good news from Vitec Group, which supplies equipment to the broadcast, entertainment and photographic industries. Last month, it reported revenue growth to £159m (£126m), as interim profits rose 20 per cent to £17.3m (£14.3m). Days before, it unveiled the acquisition of Hollywood-based Litepanels, which has developed a range of light-emitting diode-based lights. The company hopes Litepanels can build its business quickly, as its low-heat lights reduce the power and air-conditioning requirements in studios. Vitec also expects good trading in the second half, buoyed by demand for its broadcast services at the Olympics. Its share price, with exposure to dollar revenues, has ticked up nearly 8 per cent in recent weeks. The stock, trading on a p/e ratio of around 8, appears modestly rated. There is concern over acquisition risk but, as a showbiz investment, it's a case of: lights, cameras, "buy" action.