Interim Management Statement

RNS Number : 0858D

Anite PLC

10 September 2008

 



    Wednesday, 10 September 2008

Anite plc

Interim Management Statement

Anite plc ('Anite' or 'the Company'), the international software and solutions company, announces its Interim Management Statement as required by the FSA's Disclosure and Transparency rules. The financial commentary covers the first four months of Anite's current financial year, from 1 May to 31 August 2008. 

Trading

The Company has made a positive start to the current financial year and the Group's order intake is up slightly on the same period last year. Overall revenues have been characterised by some seasonality and for the four months ended 31 August 2008 are in line with the Board's expectations.  

Total Wireless revenues and profits in the first four months have been in line with the Board's expectations and we expect that trend to continue. 

Travel has performed in line with the Board's expectations over the period.

Proposed disposal of Anite Public Sector

On 1 August 2008, the Company announced the proposed disposal of Anite Public Sector for £54.3m (subject to certain adjustments).  The Company received shareholder approval for this disposal on 29 August 2008, and completion remains only conditional on the Office of Fair Trading confirming in writing that it will not refer the transaction to the Competition Commission.  The Board remains confident that this disposal will not be referred to the Commission. 

Financial position

There has been no material change in Anite's financial position in the period. The Company's financial position remains strong, and following the proposed disposal of Anite Public Sector is expected to enable the Board to reduce Anite's bank borrowings by £25m, provide greater flexibility for the Company to purchase its shares under the authority granted by shareholders and provide funds to make selective acquisitions at the appropriate time.

Reflecting this, the Board is seeking shareholder approval at the Company's AGM to be held tomorrow, 11 September 2008, to renew its authority to buy back Anite shares.  

Commenting, Steve Rowley, Anite's Chief Executive said:

'The proposed sale of Anite Public Sector marks another phase in the transformation of Anite. It reinforces our commitment to positioning Wireless as the heart of our business whilst aiming to reduce the conglomerate discount that affects the valuation of our shares'.  

- Ends -

Anite Group plc	www.anite.com
Steve Rowley, Chief Executive Christopher Humphrey, Group Finance Director	01753 804000
Smithfield	020 7360 4900
Reg Hoare/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. The industry-specific solutions we provide to the Wireless, Telecoms, Travel and Public Sector markets invariably include our proprietary software at their core.  

The comprehensive service we offer, which includes implementation, systems integration, maintenance and managed services, enables us to build long-standing and mutually rewarding relationships with our customers.

Based in the UK, Anite and its subsidiary companies now employ around 1,100 staff across Europe, America and Asia Pacific. 

 

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