Anite IMS

Anite is a global provider of hardware and software solutions, systems integration and managed services within its core markets of Wireless and Travel. I have a holding in my growth portfolio (epic code: AIE).

Anite issued their third quarter IMS today and clearly order placement in the Handset Testing business is still slow.   The third quarter is traditionally their quiet period and this year is no different.  Trading has been in line with expectations and with a continuation of the trends experienced in the first half.


Handset Testing achieved revenue in line with the same period last year. The Handset Testing business enters the final quarter in a similar position to twelve months ago with an expectation of a comparable level of order intake and revenue supported by a strong pipeline of opportunities. 


Network Testing and Travel have both had strong third quarters, in line with expectations, and are on track to achieve their full year targets.


Group net debt at 31 January 2014 stood at £3.7m a reduction of £2.3m from their interim position.  In the fourth quarter last year net debt was reduced by £7.6m despite paying out £1.3m for the interim dividend.  A similar result this year will see the business move back in to net cash a regular position during the years of 2009-12.