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
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.