Barco profit below expectations as projectors slip
BRUSSELS Feb 7 (Reuters) - Belgium-based Barco, a maker of high-end digital screens for aircraft and hospitals, posted 2013 profits below expectations, as earnings from its leading cinema projector division fell.
The company reported a 4 percent drop in 2013 core profit (EBITDA) to 153.2 million euros ($208.3 million), lower than the 159 million euro average forecast in a Reuters poll.
The group said that for 2014 it expected sales growth of a low single digit percentage and improved profitability despite a challenging macroeconomic environment.
Barco said it would increase its dividend payable this year to 1.50 euros per share, from the 1.40 euros paid in 2013. Analysts had on average expected a dividend of 1.53 per share.
($1 = 0.7353 euros) (Reporting By Robert-Jan Bartunek)