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TMCNet:  4G rollout lifts Anite as group looks to sell its travel division

[May 13, 2014]

4G rollout lifts Anite as group looks to sell its travel division

(City A.M. (UK) Via Acquire Media NewsEdge) SHARES in FTSE 250 software group Anite jumped over 10 per cent yesterday after it reported strong fourth quarter trading along with continuing discussions for a disposal of its travel business.

Anite said the rollout of 4G networks had boosted demand for its smartphone testing services from the likes of Samsung and Vodafone during the first half of the new financial year.

"The second half of the year has seen a progressive improvement in handset testing trading, as certain of the revenue catalysts we identified at the half year have started to bear fruit," said chief executive Christopher Humphrey.

Anite is reportedly in exclusive talks with private equity group LDC for the sale of its travel division which accounted for about 15 per cent of Anite's total revenues of £132.5m in 2013. Its shares closed up 10.2 per cent at 91.5p yesterday.

(c) 2014 City A.M.

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