Interim Management Statement

RNS Number : 3740A

Anite PLC

19 February 2014

 



19 February 2014

Anite plc

Interim Management Statement

Anite plc ("Anite" or "the Group"), the leading provider of software solutions to the international wireless and leisure travel industries, announces its Interim Management Statement covering the third quarter of its current financial year, from 1 November 2013 to 18 February 2014. 

Third Quarter Trading and Financial Position

Trading in the third quarter, which is traditionally a relatively quiet period for the Group, has overall been in line with expectations, continuing the trends experienced in the first half. 

Handset Testing achieved revenue in line with the same period last year.  As expected, adjusted operating profit¹ was impacted by the additional overhead acquired with the Propsim acquisition in January 2013.  The Handset Testing business enters the important final quarter in a similar position to twelve months ago with an expectation of a comparable level of order intake and revenue supported by a strong pipeline of opportunities.  This includes prospects related to the specific technology and customer-related revenue catalysts identified at the time of December's Half Yearly Report.

Network Testing and Travel have both had strong third quarters, in line with expectations, and are on track to achieve their full year targets.

Group net debt at 31 January 2014 stood at £3.7m (31 October 2013: net debt of £6.0m).

¹ - Adjusted operating profit is defined as operating profit before share based payments, amortisation of acquired intangible assets and restructuring costs.

Commenting, Christopher Humphrey, Chief Executive, said:

"We continue to expect that second half trading will improve on the first half as we anticipate continued robust performances from Network Testing and Travel and a material improvement in Handset Testing as we begin to benefit from previously discussed technology and customer-related catalysts.  

"As anticipated, Handset Testing in the fourth quarter requires a similar strong performance to meet expectations as we successfully achieved last year.  It has a good pipeline of opportunities to support this, although as ever the exact timing of major deals remains difficult to predict."

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Anite plc                                                                                         www.anite.com

Christopher Humphrey, Chief Executive                                        01252 775200

Richard Amos, Group Finance Director

MHP Communications                                                                 020 3128 8100

Reg Hoare / Giles Robinson / Jack Holden  

 

END

 

 

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