Travel and leisure software supplier Anite has signed a £20 million credit facility to provide “additional financial flexibility”.
The disclosure came as the company issued a trading update for the six months to October 31. The company said it signed a new five year £20 million revolving credit facility on October 16.
Anite said overall trading in the last two months of its first half continue the “strong trends” indicated at the time of the company’s interim management statement on September 15.
“This has resulted in a half year group revenue and adjusted operating profit performance ahead of the board’s expectations,” Anite said. “Whilst recognising that current macro-economic conditions are volatile, overall, the board’s expectations for the group have increased significantly for the year as a whole.”
The company said it was benefiting from an acceleration of demand in the wireless testing market.
“This, together with a solid start for both our travel and network testing businesses, gives us increasing confidence for the year as a whole,” said chief executive Christopher Humphrey. Anite is due to publish its report for the six months ended October 31 on December 1.