Year End Trading Update

RNS Number : 4177D

Anite PLC

16 May 2012

 



16 May 2012

Anite plc

("Anite" or "the Group")

Trading Update

Notice of Results

Anite plc, the leading provider of software solutions to the international wireless and leisure travel industries, today announces a trading update for its financial year ended 30 April 2012.  Anite intends to issue its final results on 3 July 2012.

Trading for the Group in the final quarter of the year remained strong and, as a result, revenue and adjusted¹ profit before tax are expected to be slightly higher than the top of the range of current market expectations.  The strong fourth quarter trading performance will result in Anite achieving growth in revenue and adjusted operating profit in excess of 30% and 60% respectively for the full year. Cash generation was also robust, with net cash at 30 April 2012 of £16.9m (31 October 2011: £12.6m).

The Handset Testing business closed the year successfully, with full year revenue and operating profit both ahead of the Board's most recent expectations as stated at the time of the IMS issued on 23 February 2012.  Demand was strong for both LTE and 2G/3G products, with LTE technology products accounting for 45% of Handset Testing's full year revenue.  Good progress has been made with both Conformance Testing and Inter-operability Testing products.

In challenging market conditions, Network Testing grew order intake and revenue in the second half of the year, compared to the same period last year, through sales of the Invex benchmarking product launched at the end of the first half.  Operating profit in the second half of the year was flat compared to the prior year, due mainly to a change in the mix of other products sold.  

In Travel, as previously announced, the main feature of the final quarter was the signature of a contract to implement the @com reservation system at Thomas Cook UK.  This, combined with other smaller contract wins, resulted in Travel achieving revenue and operating profit expectations for the full year and led to a significantly increased order backlog.

¹  Adjusted results are for continuing operations before share based payments, amortisation of acquired intangible assets, restructuring costs, other gains and losses and recycled hedge losses.

Christopher Humphrey, Anite's Chief Executive, commented:

"This has been an exceptional year for Anite in terms of financial results and, at the same time, each of our businesses has made significant operational progress.

The key drivers for our Wireless businesses remain strong.  I believe that this, combined with the good progress made this year, means we are well placed to deliver sustainable organic growth into the future."

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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 / Anthony Arthur / Giles Robinson

 

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