Financial highlights
Revenue £109.2m (2013: £113.1m)
EBITDA £24.0m (2013: £35.5m)
Operating profit £15.3m (2013: £29.7m)
Operating margin of 14% (2013: 26%)
Profit before tax £14.9m (2013: £29.5m)
Diluted adjusted earnings per share 3.9p (2013: 7.1p)
Closing order book up 14% to £30.9m (2013: £26.9m)
Strong operational cash conversion
Net cash of £6.1m (April 2013: net debt £0.9m)
Statutory results
Revenue from continuing operations £109.2m (2013: £113.1m)
Profit from continuing operations £7.8m (2013: £15.6m)
Profit from discontinued operations £4.5m (2013: £3.7m)
Profit for the year £12.3m (2013: £19.3m)
Basic statutory earnings per share from continuing operations 2.7p (2013: 5.5p)
Diluted earnings per share from continuing operations 2.6p (2013: 5.1p)
Dividend maintained
Proposed final dividend 1.265p (2013: 1.265p)
- total dividend 1.84p (2013: 1.84p)
Operating highlights
Results in line with expectations
Handset Testing - progressive improvement in second half
Network Testing - strong performance throughout year
Maintained strong R&D investment £20.8m (2013: £18.9m)
Travel disposal 29 May 2014 for total consideration £45m
- £43.3m cash received on completion
- Travel revenue £20.5m (2013: £19.4m); operating profit (before share-based payment charge) £5.5m (2013: £4.8m)
Current trading
Trading ahead of the same period last year
Christopher Humphrey, Chief Executive, said:
"We are pleased to report that Anite had a strong finish to the financial year despite the challenging first half market conditions in the Handset Testing business. Second half trading improved progressively in Handset Testing with a good performance throughout the year by Network Testing.
"Since the start of the new financial year we have sold our Travel business which will enable us to focus on growth opportunities in the wireless market. We believe that with two well-positioned, complementary businesses and a strong balance sheet, Anite is entering an exciting new phase in its development."
