Wednesday, 1 July 2009

Anite battening down the hatches

(By Philip Carnelley 1 Jul 2009 09:30) Anite has announced its results for the year ending 30 April (see here). This is a very different Anite to a year ago, having sold its public sector business (see Anite Public Sector – Going, Going … Gone!). Revenues from continuing operations fell slightly, from £91.6m to £90.2m. This included benefit from a weaker sterling – at constant currency, revenue would have fallen 10%. The company improved its operating margin 2pp to 22% (also benefitting from currency effects). As a consequence of the sale of Anite PS, the company now has cash in the bank (£27m) rather than debt. But attention turns to the future: Anite’s two chosen sectors – travel and wireless equipment – are pretty tough. We will have more to say after the analyst call later this morning.

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