Anite warns of 'significantly' lower profit

15th Sep 2009 08:29

Anite warned that profit in the first half is expected to be significantly lower than the record profits that were reported in the prior year. The group said the current trading year has been challenging, with less favourable currency movements and seasonality than last year. The order book stood at around £57.6m as at 31 August, lower than at the same time last year, reflecting the customer changes in Travel, transition in Wireless and the difficult economic conditions affecting the capital expenditure budgets of some customers.'As we expected, trading for the year to date has been challenging. The investments we are undertaking this year are however building strong foundations for future profitable growth,' said chief executive Christopher Humphrey.'We continue to believe that the longer-term outlook for our new travel system and its international market and for the growing adoption of LTE technology is very positive.'