Anite Group PLC
20 May 2005
For immediate release 20 May 2005
Anite Group plc
Year End Trading Update
Anite Group plc ('Anite' or 'the Group'), the worldwide IT solutions and
services company, today announces a trading update for its financial year ended
30 April 2005.
Highlights:
• Strong performance with adjusted results* expected to be at the top end
of the Board's expectations, reflecting a stronger than expected performance
by Telecoms
• Year end net funds of £37m, including £21m net receipts from disposals,
and after high capex, continued high R&D and cash earnout payments of £8m
Year End Trading Update
Anite's adjusted results* are expected to be at the top end of the Board's
expectations, reflecting a stronger than expected performance by Telecoms.
Year end net funds stood at £37m, including £21m net receipts from disposals
completed during the year, continued investment in R&D, cash earn out payments
of £8m and high capital expenditure, including £5m invested in the new Fleet
headquarters for Telecoms, which opens later this month. As previously stated,
the Group will be reporting the results of disposed/closed businesses and
ongoing businesses separately.
Both Pericles and The State of Victoria contract continue to be the subject of
management focus and there will be an update on both at the time of the
preliminary results.
The preliminary results for the year ended 30 April 2005 will be announced on
Tuesday, 12 July 2005.
*ongoing businesses before goodwill amortisation, exceptional items and
utilisation of provisions
Commenting on the update, Steve Rowley, Anite's Chief Executive, stated:
'2005 was a year of strong recovery by Anite. We are now focusing on growth
opportunities in our core markets, backed by our greatly strengthened balance
sheet and following the successful sale of peripheral businesses.'
- Ends -
Anite Group plc www.anite.com
Steve Rowley, Chief Executive 01753 804000
Christopher Humphrey, Group Finance Director
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
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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.
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