Anite hails 'exceptional' year
Software firm Anite reported strong results and boosted its dividend after a year that exceeded expectations.
Software firm Anite reported strong results and boosted its dividend after a year that exceeded expectations.
The company said its mobile phone testing division helped drive pre-tax profits up 75% to 28m.
Revenues were up 31% to £122.5m, something the company recognised with a 53% increase in its final dividend, to 1.125p.
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
Basic earnings per share went up 97% to 6.5p.
Anite said that its three businesses, handset testing, network testing, and travel industry software, were all well placed to deliver sustainable growth and increased shareholder value going forward.
It singled out the handset testing arm, which it said was capable of achieving double-digit revenue growth for the immediate future.
"The inexorable increase in mobile data and smartphones and in the complexity of devices and networks as new technology is introduced - will continue, and will undoubtedly create more requirements for testing," said Chief Executive Christopher Humphrey.
"To ensure that we will be ready to take advantage of the opportunity this offers, our total R&D spend during the year was a record £17m, a 32% increase year-on-year," he added.
Anite said it expected revenues at its handset testing division to grow in the low to mid teen percentage range this year.
In network testing it expects mid single digit percentage growth in revenue, while travel growth is expected to be similar to the one just completed, with a low single digit percentage rise in revenue.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Career ‘pension gaps’ could reduce average worker’s retirement pot by six-figure sums, new report finds
News The report by the Institute and Faculty of Actuaries (IFoA) has shown key career decisions, like opting out of an employer’s auto-enrolment scheme, could significantly reduce final pension pots.
By Henry Sandercock Published
-
Is the US dollar losing its appeal?
The US dollar is looking oversold in the short term and is due a bounce. What does it mean for global markets and the upcoming US elections?
By Dominic Frisby Published