Technology provider Anite Travel has recorded a drop in revenues and operating profits following the loss of contracts with MyTravel and XL Leisure Group.
Anite Travel shifts to annual licences
Technology provider Anite Travel has recorded a drop in revenues and operating profits following the loss of contracts with MyTravel and XL Leisure Group.
Revenues for the half year until the end of October 2009 dropped by 36% to £11.3m with operating profit 61% down at £2.5m. Anite said this was in line with its expectations.
It is also planning to migrate its existing ATOP customers onto @comRes, while also changing its revenue model to an annual licence.
“[This] will reduce the initial capital cost for customers and will augment our recurring revenue in the future,” the report said.
Headcount within the travel team dropped to 185 from 215 from the same period last year.
Anite Travel has identified Germany, central and eastern Europe as territories where it can grow in the short term, based around its browser-based @comRes solution.
