Anite profit rises 30 pct on strong growth in handset testing
Dec 4 (Reuters) - Software company Anite Plc reported a 30 percent rise in adjusted first-half profit on double digit growth in its handset testing business, driven by strong demand for interoperability testing and LTE products.
Anite, which provides handset testing systems for wireless companies and reservation software to the leisure travel industry, said it was confident of meeting its full-year expectations and that it expects the second half to show an improvement over the first half and a year earlier.
Profit before tax rose to 14.3 million pounds ($23.02 million) for the six months ended Oct. 31 from 11 million pounds a year earlier.
Revenue climbed 9 percent to 61.2 million pounds.
Revenue at its handset testing business rose 17 percent to 40.5 million pounds. Revenue from LTE 4G, which now represents 50 percent of overall handset testing revenue, grew 29 percent to 20.2 million pounds.
Carriers and wireless companies are increasingly investing in the next generation mobile technology or long-term evolution (LTE) 4G. LTE network roll-outs have begun and are expected to gain momentum around the world over the next few years.
Revenue from network testing fell 7 percent to 11.8 million pounds, while travel revenue grew 1 percent to 8.9 million pounds.
Travel companies like Thomas Cook and TUI Travel Plc use Anite's travel reservation software.
Anite also raised its interim dividend by 0.2 pence to 0.575 pence per share.
Shares in the company closed at 137.5 pence on the London Stock Exchange on Monday, valuing the business at about 410 million pounds.