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Annual Results

Anite profits up

01 July 2015 07:38

Anite - a leading supplier of test and measurement solutions to the international wireless industry - posts adjusted operating profits of £22.7m for the year to the end of April, up from £15.3m in 2014.

Revenue rose to £118.4m (2014: £109.2m) and adjusted earnings before interest, tax, depreciation and amortisation increased to £30.7m (2014: £24.0m). Operating margins rose to 19% (2014: 14%) and adjusted profit before tax was £22.7m (2014: £14.9m).

On a statutory basis, profit from continuing operations (after tax) was £10.8m (2014: £7.8m); profit from discontinued operations rose to £33.9m (2014: £4.5m) and profit for the year was £44.7m (2014: £12.3m).

Chief executive Christopher Humphrey said: "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.

"The proposed combination with Keysight will create a larger, stronger organisation better able to withstand market volatility. It also provides Anite shareholders with an opportunity to crystallise their investment at a meaningful premium."

Story provided by StockMarketWire.com

Related Company: AIE

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