LONDON (ShareCast) - Wireless equipment tester Anite (LSE: AIE.L - news) saw profits down in the year and warned 2009/10 will also be
lower due to the rebasing of its travel business.
"We expect profits for 2009/10 as a whole to be lower than in 2008/09. This will be more marked in the first half as a result of the re-basing of our Travel business and an increased customer-led one-off investment in LTE (4G)," said the group.
Adjusted profit before tax rose to £18.1m from £16.7m last year but minus the adjustments, profits fell to £6.4m from £9.4m. Revenue fell to £90.1m (2008: £91.6m), at constant currency revenue was £82.6m.
The effect of currency movements during the year was to improve revenue by £7.5m and operating profit by £3.9m.
"I expect the current trading year to be challenging, particularly in the first half, given the impact of our additional investment in LTE and the effect of customer changes in Travel," said chief executive Christopher Humphrey
"The longer-term outlook for our new travel system and its international market, and for the growing adoption of LTE technology is, however, very positive," he added.
Total dividend is 0.95p (2008: 0.875p).
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