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Good Anite performance follows group-wide reshuffles

Systems integrator reorganises to shed loss making divisions

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Interim results for the six months ending 31 October, show an improved performance from systems integrator Anite. This comes in the wake of a round of reorganisations and acquisitions within the group, but Anite’s chairman said more work still needs to be done in the future. Profit for the period stood at £4.5 million, compared with a loss of £0.1 million for the same six months last year, turnover for the six month period was up 64 per cent at £81.1 million. In January, Anite sold of its UK networking division and then restructured its subsidiaries in Australia and New Zealand, along with those divisions that sell into the space, defence, manufacturing and distribution sectors. This restructuring work was aimed at disposing of loss making operations and saw Anite close its Bristol divsion. Acquisitions include the German consultancy firm BIV, which was bought today for £19.8 million. In August, Imasys, a company that sells workflow products into the local government sector was acquired for £5.5 million. The largest single division within the group, Anite Systems, recorded turnover of £54.4 million, compared with £39.4 million for the same period last year. Profit was £2.1 million, up fractionally on the £2 million for the six months ending 31 October 1997. Anite’s chairman, Alec Daly, said the decision to dispose of the networking group and focus on systems was contributing to improved performance but said margins still had to be improved. "Further work is required to improve the margins obtained, and we will remain cautious until the company moves decisively into profits growth."®

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