Looking at the qualitative statements made by companies, it is clear that most have already taken appropriate action to protect margins
Tewkesbury, Gloucestershire (PRWEB) April 15, 2009
Growth in sales by companies supplying technology to broadcast and media companies grew by 11.7% year on year to the end of March 2009, according to the latest Industry Index from the International Association of Broadcasting Manufacturers (IABM).
The IABM Industry Index tracks the financial performance of supplier companies in the sector and is part of a portfolio of market intelligence and market research services on offer. The index tracks the state of the industry through an analysis of published financial statements from a basket of small, medium and large companies.
While 78% of companies tracked in this analysis are in profit, the level of profitability is in decline. European-based vendors are particularly affected by this, with profitability in North American companies holding up well.
"These figures should be seen in context: financial statements published up to the end of March largely reflect the business trends for 2008, so not only are they only just beginning to be affected by the recession, they cover a particularly big year for the broadcast industry," said Roger Crumpton, director of IABM. "That said, it does show that this is a healthy industry, as ready as any to face the difficult times ahead.
"Looking at the qualitative statements made by companies, it is clear that most have already taken appropriate action to protect margins," Crumpton continued. "They are also taking advantage of the global nature of the industry, with sales performance in the Far East, Middle East, India and Australia reported to have held up better than North America and Western Europe."
The Industry Index is a service provided by the IABM for its members. It tracks the year on year change in overall sales and profitability for the industry through a detailed examination of reported financial data. Only businesses or divisions trading exclusively or almost exclusively in broadcast manufacturing and media technology products and services are included.