Anite announces half year pre-tax profit

Software solutions company Anite today reported half year pre-tax profit up by 69% to £11 million.

Software solutions company Anite today reported half year pre-tax profit up by 69% to £11 million.

The firm, which supplies the international wireless and leisure travel industries, saw revenue rise by 33% to £56.2 million in the six months to October.

Anite reported a strong order intake from the travel sector, an increased backlog of contracted orders and growing pipeline of business.

Travel sector orders more than doubled to £15.3 million although revenue fell by 9% to £8.8 million. The adjusted operating profit was £1.6 million, up by £100,000 on the same period last year.

Anite, which signed a contact with Tui UK in April, said: “The travel division continues to have a strong backlog of contracted orders and the pipeline of sales prospects is healthier than it has been for some considerable time.

“Given the difficult macro-economic backdrop, sales cycles in this market may be less predictable. However, we expect that some of the current opportunities will result in second half orders, leading to financial performance in line with that achieved in the second half of last year.”

The company added: “We are encouraged by the record order book the travel business has reported and the progress made on delivering the major projects currently under contract.

“Growth in this business is dependent on securing new contracts and in that regard we are also encouraged by the pipeline of new opportunities that is healthier than at any time in recent years.”

Chief executive Christopher Humphrey said: “Anite had a great first half. Both revenue and adjusted operating profit were well ahead of the board’s original expectations.

“As a result, we are confident we will be able to report significant growth for the year as a whole.”