Half Year Trading Update and Notice of Results

RNS Number : 7512W

Anite PLC

12 November 2014

 



                                                                                                                               12 November 2014

Anite plc

Half Year Trading Update

Notice of Results

Anite plc ("Anite" or "the Group"), a leading provider of software and hardware solutions to the international wireless industry, today issues a trading update for the six months ended 31 October 2014.  Anite intends to issue its half yearly report on Tuesday, 2 December 2014.

Anite had an encouraging finish to the first half, with Group revenue and adjusted¹ operating profit ahead of last year.  This was despite the seasonally slow start to the year and a market backdrop that remains challenging. 

Handset Testing achieved mid single digit revenue growth with trading levels accelerating towards the end of the period.  Profitability increased more significantly due to reduced fixed costs compared to the comparative period.  Order intake was also encouraging, with orders for products (as opposed to maintenance/support renewals) increasing by strong double digits, helping support future revenue growth expectations.   

In underlying constant currency terms, Network Testing delivered low single digit revenue growth although this was offset in Sterling terms by a 6% weakening in the Euro compared to the same period last year.  Year on year profitability in the business was impacted by planned investments which are expected to drive further revenue and profit growth in the second half.  

Group trading is typically biased towards the latter part of the second half year and the businesses continue to operate with short sales pipeline visibility.  However, momentum in both Handset Testing and Network Testing is currently positive and the Board thus remains confident of the Group's ability to meet its expectations for the full year. 

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

Commenting on recent trading and outlook, Christopher Humphrey, Chief Executive, said:

"After a typically quiet start to the year, the Group had a good finish to the first half with momentum building in both businesses. We enter the second half encouraged by the pipeline of opportunities and confident in our ability to continue to grow."

- Ends -

Anite plc	www.anite.com
	@AniteNews
Christopher Humphrey, Chief Executive	01252 775200
Richard Amos, Group Finance Director
MHP Communications	020 3128 8100
Reg Hoare/Giles Robinson

 

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