Software group Anite said recent trends and a growing pipeline of work has boosted the group's confidence in meeting full year forecasts as it posted a 30 per cent increase in half year profit.
The company, which provides software solutions to leisure and travel and wireless industries, said pre-tax profit jumped to £14.3m for the six months ended October 31st 2012 from £11m previously. Revenue for the period rose to £61.2m from £56.2m previously.
Its closing order book increased to £107.2m from £92.5m the same time a year earlier while its order intake fell 15% to £53.9m, reflecting a strong comparative period.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In wireless the group saw strong demand in handset testing while network testing is seeing growing momentum with Invex and LTE 4G products.
Meanwhile in travel, the FirstThomasCook.com phase has been delivered and is now live. Anite said orders contracted for second half delivery increased to £9m from £8m in 2011 as its order pipeline expands.
Anite underlined its confidence in future trading by lifting its interim dividend by 53% to 0.575p per share.
Commenting on trading, Chief Executive Christopher Humphrey said: "Anite had a good first half with encouraging trading conditions in its markets despite the uncertain global economic backdrop."
"The range and potential of growth drivers are more varied and more balanced than they used to be. This is particularly so in Handset Testing, with significant opportunities over and above its original core market. It is also evident in Network Testing and Travel which have both substantially extended their footprints in recent years."
Anite said it has increasing confidence in its ability to deliver sustainable growth in the coming years.
CJ
-
How much should I have in emergency savings?When your boiler breaks or your car won’t start, you can find yourself paying a hefty bill. How much should you have in emergency savings to cover unexpected costs?
-
ISA investments by age: should I invest more in my stocks and shares ISA?Stocks and shares ISAs are a great way to grow long-term wealth, but are they overlooked compared to cash savings? We look the average ISA investment by age and if you should have more.
