Trading Statement
Anite Group PLC
23 April 2002
For immediate release Tuesday, 23 April 2002
ANITE GROUP plc
Trading Update & Contract Wins
Anite Group plc ('Anite' or 'the Company'), the European consultancy and
services company, is today announcing a trading update ahead of an analyst and
investor 'teach-in' being held later today, and just prior to its financial year
end of 30 April 2002. The seminar will include reviews of the Company's Public
Sector, Travel and Telecoms' businesses, and an overall review of the Group's
progress as well as an update on the successful integration of recent
acquisitions.
Trading update
As indicated at the time of the trading update released on 22 February 2002, the
Company has traded strongly since the interim results were announced on 4
December 2001. Having now completed 11 months of trading in the current
financial year, profits are in line with management expectations driven by good
organic growth and order intake, resulting in strong operating cash generation.
The excellent balance and geographical diversification of our business continues
to produce overall growth in excess of the sector, with the stronger
performances in Anite Public Sector and Anite Travel balancing well with good
growth in Anite Telecoms and Anite Consultancy.
The overall order pipeline remains robust (see below) and we will enter the
coming financial year with a higher order book than at the same time last year.
Divisional Highlights
• Growth has been led by Anite Public Sector ('APS'), underpinned by new
contract wins, including new successes detailed below;
• Trading in our Consultancy business reflects a strong performance from our
recently acquired businesses, Datavance and Parsec, in a tough overall
market;
• Travel is enjoying strong growth, with continuing successful
implementations under the Airtours 10 year contract (with a three year
break) won in August 2001, and further contract wins from new and existing
customers;
• In our Telecoms business, in common with the industry, market conditions
have affected 3G orders, but orders for 2/2.5G systems remain strong whilst
R&D spending has been maintained at £6m for the year.
Recent acquisitions
Since the interim results, Anite has also made four important acquisitions, in
particular strengthening its Public Sector and Travel operations to take
advantage of the significant opportunities in these markets. These include FSS
Group Ltd, completed on 4 December 2001 for up to £10.0m, Lorien Consulting,
completed on 11 February 2002 for up to £4.8m, Ideal Technology Services
Limited, completed on 25 March 2002 for up to £4.975m, and Micro Surveys
Property Systems Limited, completed on 18 April 2002 for up to £8.0m. These
acquisitions are being successfully integrated and are performing in line with
management expectations.
Contract Wins
APS has won contracts with a total value of £20m in the last 10 weeks alone,
including a £3.5 million PFI contract with a major local authority to manage IT
applications and services in its Revenues and Benefits department. The 5 year
project includes key areas which Anite will be managing such as housing
benefits, council tax arrears and billing, allowing APS to bring the full range
of benefits of its integrated portfolio to the council.
Travel contract wins have continued with recent awards including new customers
such as Golden Caribbean, Indigo Holidays, Haven Europe and NorthLink Orkney &
Shetland Ferries.
Telecoms has also won significant orders over the last two months, from
Panasonic amongst others.
Commenting on the trading update, John Hawkins, Chief Executive of Anite, said:
'The year ended 30 April 2002 has seen another strong performance from Anite and
having now completed 11 months of trading, profits are in line with management
expectations driven by good organic growth and order intake, resulting in strong
operating cash generation.
'We have benefited from being geographically diversified, well balanced and
strongly positioned in our core markets. We therefore remain confident that when
we report our preliminary results for the year ended 30 April 2002 in July, we
will demonstrate continued outperformance.'
- Ends -
For further information please contact: www.anite.com
Anite Group Plc 0118 945 0121
John Hawkins, Chief Executive
Simon Hunt, Finance Director
Weber Shandwick Square Mile 0207 950 2800
Reg Hoare/Laurence Read
This information is provided by RNS
The company news service from the London Stock Exchange
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