12th Nov 2014 09:54
LONDON (Alliance News) - Anite PLC on Wednesday said it saw a strong end to the first half of its financial year despite a seasonally slow start to its year and difficult market conditions.
The company, which provides hardware and software services to the wireless industry, said adjusted operating profit and revenue in the first half to the end of October was ahead of last year.
Its handset testing business delivered mid-single digit revenue growth during the period, with trading accelerating towards the end of the half. Profitability of the unit rose owing to lower fixed costs against the same period last year, while product orders increased by a double-digit percentage.
The network testing business saw its single-digit constant currency growth offset by the strength of sterling against the euro, Anite said, while profitability in the business was hit by planned investments.
Anite said its trading is traditionally weighted to the second half and said its businesses continue to operate with short-term sales pipeline visibility. It said momentum in its businesses is currently strong, giving it confidence it will meet its expectations for the year.
"After a typically quiet start to the year, the group had a good finish to the first half with momentum building in both businesses. We enter the second half encouraged by the pipeline of opportunities and confident in our ability to continue to grow," said Anite Chief Executive Christopher Humphrey.
Anite shares were up 1.5% to 85.25 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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