Travel software giant Anite has reported it saw profits soar by 75% to £28 million in the year to April.
Anite profits soar as Thomas Cook deal sealed
Travel software giant Anite has reported it saw profits soar by 75% to £28 million in the year to April.
Chief executive Christopher Humphrey described the performance as “exceptional”.
Revealing revenue up by 31% to £122.5 million and an order book up by 35% to £114.5 million, he said: “The fundamental drivers for all of our businesses continue to be favourable. Each has good market positions, products and people to pursue multiple growth opportunities.
“We have started the current year well, ahead of last year and we are well placed to deliver sustainable organic growth.”
Revenue from travel rose marginally to £20.1 million from £20 million the previous year while the operating profit was up 10% to £4.6 million.
This came as Anite signed multi-year contract with Thomas Cook Group to implement its @com booking platform in the UK and Ireland.
Chairman Clay Brendish said the company’s strategy for its travel division is to increase its long-term value as the industry changes its business model.
“[Anite’s] @com product is the only proven large-scale reservation system on the market today and is at the beginning of a potential 20-year product lifecycle.
“[Anite] sits at the very heart of our customers’ businesses and offers them greater efficiency and reduced costs.
“The addition, in recent years, of Tui Central Europe and UK, and Thomas Cook UK to [the] travel [division’s] expanding customer base represented significant landmarks in strengthening and improving [Anite’s] market position and in building long-term revenue visibility.”
The company said there was increasing interest outside the European package-holiday heartland.
“We plan to benefit from this either by working with our existing major customers, who are seeking footholds in these markets, or by selling to new, large customers,” Anite said.
“Initially @com supported the wider field of retail holiday systems in travel agents, inventory aggregation and internet-based selling tools, as more holidays were being sold over the internet.
“Developments in high-speed search and multiple message sets – that are able to feed the demand for faster and more accurate data on the web and onto mobile devices – have now moved Anite directly into those markets and have created opportunities to gain a bigger share of customers’ IT spend.”
