1st Jul 2015 07:31
LONDON (Alliance News) - Anite PLC on Wednesday posted a rise in pretax profit and revenue for the financial year to the end of April despite mixed trading conditions, as the group moves closer to completing its GBP388 million takeover by Keysight Technologies Inc.
Anite, which provides testing and measurement services to the wireless industry, agreed a GBP388 million takeover offer from Keysight, a test and measurement equipment maker, last month. As a result of the takeover, the Anite said it is not proposing a final dividend, having paid out 1.265 pence per share a year earlier.
Pretax profit for the company surged higher in the year, up to GBP22.7 million from GBP14.9 million, as revenue rose to GBP118.4 million from GBP109.2 million. The rise in revenue was driven by a recovery in its device and infrastructure testing business and a strong result in its network testing arm. The group divested its travel business over the course of the year for GBP42.5 million.
Anite said market conditions in its current financial year have continued to be mixed, but said the year has started in line with its expectations.
"As predicted, our first year as a focused wireless group has been a year of recovery for Anite. We have achieved a strong financial performance in both businesses, particularly in the second half of the year. We expect to continue to benefit from our focus on the wireless test market, from contributions by recent acquisitions and from ongoing investment in R&D," said Chief Executive Christopher Humphrey.
Anite shares were down 0.2% to 126.775 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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