Disposal costs cut Anite pre-tax profits by a third


Disposal costs cut Anite pre-tax profits by a third

Roanna Avison
Acquisition costs and charges related to the disposal of its personnel business resulted in consultancy and services group Anite reporting a 36 per cent drop in pre-tax profits.

For the six months to 31 October, Anite revealed pre-tax profits of £1.9m. Revenues for the period increased by 11 per cent to £95.2m.

Chairman Alec Daly insisted Anite had shown strong organic growth during the six months, driven by major contract wins.

"The overall growth has been led by our public sector business, where operating profits were up 765 per cent. Our telecoms business has grown profits by 78 per cent. Our travel businesses' profits grew by 59 per cent and consultancy profits grew by 36 per cent."

In a statement to the City, Daly insisted it had not seen an impact on business since 11 September.

In the last six months, Anite completed four acquisitions at a total cost of £30m - consultancy business Parsec, travel software businesses Didgicom and Rox and court and fines software vendor Braid Hill.

In June, Anite disposed of most of its IT personnel business, he added.

Looking forward, Daly predicted Anite was in a strong position for organic growth and acquisitions across its business sectors.

At the same time, Anite revealed the acquisition of travel reservation software specialist FSS Group for £10m.

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