Interim Management Statement

Anite PLC 10 March 2008 For immediate release Monday, 10 March 2008 Anite plc Interim Management Statement Anite plc ('Anite' or 'the Company'), the international software and solutions company, today announces its second Interim Management Statement as required by the FSA's Disclosure and Transparency rules, covering the period since 31 October 2007. Trading Anite announced its interim results for the six months ended 31 October 2007 on 17 December 2007. Trading in the period since 31 October 2007 has been in line with the Board's expectations. As consistently reported, profitability* and order intake as a whole tend to be dependent on the latter weeks of the half year periods, and to the second half year in particular, reflecting normal trading patterns in Anite's businesses, especially Wireless. Within Wireless, Network Testing (Nemo) is performing strongly. The weakness experienced in the first half by the Handset Testing business (principally with clients in the USA) has continued. However, the partnership with Agilent is making good progress and we expect that this, together with increasing momentum by leading industry players with respect to the adoption of LTE, will benefit the forthcoming financial year. Travel continues to perform strongly with better than expected order intake. @com customers continue to express their satisfaction with the product as we progress development and implementations. Within Public Sector, there has been a continuing improvement in underlying profitability at Local Government, although market conditions have not improved. In SIS, after a slow start, we are seeing a pick up in activity from police authorities, a key target area, with increased interest in our own software products. *continuing operations before disposed businesses, share based payments, amortisation of acquired intangible assets and exceptional costs (after interest costs) Financial position and share buy back There has been no change in the Group's robust financial position since the half year end. Net debt increased marginally reflecting seasonal working capital trend, primarily in Public Sector whose annual maintenance payments are collected in the last few weeks of the financial year. This seasonal cash outflow was increased by the share buyback programme. 10.3 million shares have been bought back during the financial year to date and cancelled at an average price of 49.5 pence per share for a total cost of £5.1m. In addition, the Company has purchased 6m shares for the Company's Employee Share Ownership Plan at an average price of 67 pence per share for a total cost of £4m. Commenting, Steve Rowley, Anite's Chief Executive said: 'The Board continues to expect performance for the financial year as a whole to be broadly in line with last year, with trading being heavily dependent on the last few weeks of the period.' 'We continue to work actively, with our advisors, to explore a variety of strategic alternatives to remove or at least significantly reduce the scale of the discount in the market valuation of our shares that reflects the ownership of several businesses.' - Ends - Anite Group plc www.anite.com Steve Rowley, Chief Executive 01753 804000 Christopher Humphrey, Group Finance Director Smithfield 020 7360 4900 Reg Hoare/Tania Wild/Will Henderson Print resolution images are available for the media to view and download from www.vismedia.co.uk Notes to editors Anite is an international software and solutions company whose primary business is the provision of industry-specific solutions based on its deep sector knowledge of the wireless telecoms, public sector, and travel markets. These solutions almost always include at their core the supply of Anite-owned software products. The Group offers a comprehensive service to its customers, including implementation, systems integration, maintenance and managed services, enabling it to maximise customer satisfaction and financial returns. Headquartered in the UK, the Group now employs around 1,300 staff across Europe, America, and Asia Pacific. Anite solutions are recognised as market leaders in their fields: • all the leading global mobile phone manufacturers use Anite software; • more than 400 public sector organisations, including all UK police forces and 75% of local authorities use our solutions; and • around 40% of UK package holiday bookings were made using Anite software and managed services. Wireless (formerly Telecoms) Anite provides specialist systems and software for testing mobile phone handsets and networks. Our customers are global technology developers, mobile phone manufacturers, test houses and mobile phone operators. Public Sector Anite is a market leader in software and solutions to key parts of local government, such as local tax collection, benefits payments, housing management and social care solutions - as well as an important supplier of secure information solutions (SIS) to the criminal justice markets. Travel Anite is the UK's leading travel technology solution providers for tour operators, air fare consolidators, and cruise, ferry, motor and rail inclusive operators in the UK and Europe. This information is provided by RNS The company news service from the London Stock Exchange
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