Profits soar for Anite
IT solutions company Anite said profit for the year ended 30th April was £36.3m, up from £13.2m the prior year.
Revenue from continuing operations was £90.1m, compared to £92.8m the prior year while profit from continuing operations before tax was £6.4m.
Basic earnings per share was 11.3p (2008:3.8p), while diluted earnings per share was 10.8p (2008: 3.7p.)
During the period, Anite benefited from £2.3m early settlement from MyTravel and by £3.9m from currency movements.
Non-operational property costs increased by £0.8m, while operating margin was 22.2% (2008: 20.4%).
A final dividend of 0.65p per share will be paid, making a total of 0.95p for the year (2008: 0.875p).
Anite had net cash of £27.3m at year end (2008: net debt £15.4m); this included the impact of gross cash receipts of £56.8m from Anite Public Sector disposal, £25m reduction in term loa and £9.9m returned to shareholders through a 3p special dividend.
Christopher Humphrey, CEO, said: 'I expect the current trading year to be challenging, particularly in the first half, given the impact of our additional investment in LTE and the effect of customer changes in Travel. The longer-term outlook for our new travel system and its international market, and for the growing adoption of LTE technology is, however, very positive.
'We continue to execute our strategy and I am confident that the work we will undertake during the current financial year will help us to build foundations for future growth, to ride out the prevailing economic storm and to deliver shareholder value.'
Revenue from continuing operations was £90.1m, compared to £92.8m the prior year while profit from continuing operations before tax was £6.4m.
Basic earnings per share was 11.3p (2008:3.8p), while diluted earnings per share was 10.8p (2008: 3.7p.)
During the period, Anite benefited from £2.3m early settlement from MyTravel and by £3.9m from currency movements.
Non-operational property costs increased by £0.8m, while operating margin was 22.2% (2008: 20.4%).
A final dividend of 0.65p per share will be paid, making a total of 0.95p for the year (2008: 0.875p).
Anite had net cash of £27.3m at year end (2008: net debt £15.4m); this included the impact of gross cash receipts of £56.8m from Anite Public Sector disposal, £25m reduction in term loa and £9.9m returned to shareholders through a 3p special dividend.
Christopher Humphrey, CEO, said: 'I expect the current trading year to be challenging, particularly in the first half, given the impact of our additional investment in LTE and the effect of customer changes in Travel. The longer-term outlook for our new travel system and its international market, and for the growing adoption of LTE technology is, however, very positive.
'We continue to execute our strategy and I am confident that the work we will undertake during the current financial year will help us to build foundations for future growth, to ride out the prevailing economic storm and to deliver shareholder value.'
Story provided by Business Financial Newswire
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