Disposal

Anite Group PLC 28 April 2005 For immediate release 28 April 2005 Anite Group plc Proposed disposal of Anite Austria Reporting of results of disposed businesses Proposed disposal of Anite Austria Anite Group plc ('Anite' or 'the Group'), the worldwide IT solutions and services company, today announces that it has agreed to sell Anite Consulting GmbH ('Anite Austria'), its IT consultancy business based in Vienna, Austria, to Softlab GmbH Austria (part of Softlab GmbH, a BMW Group Company) for a total consideration of €3.7 million (£2.6m) payable in cash on completion. The consideration includes €2.7 million payable in respect of the business and €1.0 million in respect of cash held within the business. The proposed disposal is in line with Anite's stated strategy of disposing of non-core, peripheral businesses to better focus on its three core vertical markets of public sector, telecoms and travel. Within these markets, Anite's delivery model is typically based upon business solutions with Anite-owned software at their core. It is the Board's strategy to develop the Group organically and through acquisitions in its three core markets. In the short term the proceeds of the disposal will be utilised for working capital purposes and will strengthen the Group's balance sheet. Anite Austria reported profit before tax of £0.3m (2003: £0.4m) on turnover of £3.0m (2003: £3.6m) in the year ended 30 April 2004. In the Group's interim results reported in December 2004, Anite Austria contributed profit before tax of £0.2m on turnover of £1.5m. Net assets as at 31 October 2004 were £0.3m. Anite Austria employs 33 staff out of a current total of 158 in Anite's International division. There will be a small profit on disposal. Completion is expected to take effect towards the end of May, subject to merger consent approval from the Austrian regulatory authorities. Anite intends to announce a year end trading update for its financial year ended 30 April 2005 in late May. Commenting on the disposal, Steve Rowley, Anite's Chief Executive, stated: 'We are pleased to have agreed this disposal. This follows the recent sales of other peripheral businesses and is in line with our stated strategy of selling non-core businesses. This will enable us to better focus on growth opportunities in our core markets.' Reporting of disposed businesses in Anite's future results Anite confirms that it intends to report as disposed/closed businesses all the results of the businesses that it has disposed of during its financial year ended 30 April 2005, including Anite Austria. The contributions of these businesses to Anite's preliminary results for the year ended 30 April 2004 and interim results for the six months ended 31 October 2004, are listed in the tables below: Disposed businesses (Group) Disposed Date of 2003/4 £m 2003/4 2004/5 £m 2004/5 businesses completion £m interim £m full year full turnover interim turnover year PBIT PBIT Anite Space Sept 2004 5.1 1.2 * * Datavance Feb 2005 20.2 2.0 * * Anite Austria May 2005 3.0 0.2 * * International sub-total 28.3 3.4 14.1 1.3 Anite Calculus Nov 2004 2.5 0.1 * * Anite Transport Dec 2004 1.7 0.0 * * Group total 32.5 3.5 16.1 1.6 * not disclosed N.B. Space, Datavance and Austria were included in International; Calculus in Telecoms, and Transport in Public Sector. Anite's International division will continue to be reported separately. The remaining businesses that make up the division are as follows: Continuing businesses (International only) Continuing 2003/4 £m 2003/4 2004/5 £m 2004/5 businesses £m interim £m full year full turnover interim turnover year PBIT PBIT Anite Deutschland 14.7 * * * GMO MC 2.9 * * * Anite Finance 3.8 * * * Total 21.4 1.9 9.4 0.7 * not disclosed - Ends - For further information, please contact: www.anite.com Anite Group plc 01753 804000 Steve Rowley, Chief Executive Christopher Humphrey, Group Finance Director Arma Partners 020 7290 8100 Adam de Courcy Ling/Adam Beard Smithfield 020 7360 4900 Reg Hoare/Sara Musgrave Print resolution images are available for the media to view and download from www.vismedia.co.uk This information is provided by RNS The company news service from the London Stock Exchange
UK 100

Latest directors dealings