Anite travel division performs ahead of expectations

By Travolution
By Travolution
December 9, 2013 09:38 AM GMT

The travel division of software solutions company Anite performed well in the first half of the year, delivering growth in revenue and profit “in excess of expectations”.

Revenue of £10.1 million was up 13% on the £8.9 million reported in the same period in 2012.

Adjusted operating profit rose by 53% at £2.6 million as the business benefited from the operational gearing effect of delivering the incremental revenue on a largely fixed cost base, the company said today.

However, Anite’s overall half year pre-tax profit was down 64% to £5.1 million from £14.3 million.

The travel division’s order book increased by 11% to £4.9 million year on year in the six months to October 31.

The business closed the period with a “very strong” contracted but undelivered order book of £75.2 million against £80.4 million in April.

“This order book is made up predominantly of multi-year maintenance and support contracts which will be delivered over the next five to 10 years,” Anite said.

New orders include a contract to install the @com reservations system at Canadian Affair as well as a number of follow-on contracts and extensions for existing customers.

“In addition the business continued to progress with the major contracts that it has been working on over the last few years. In particular, the Thomas Cook UK mainstream contract is now fully live and in the maintenance and support phase and progress continues to be made on the Tui UK implementation where initial phases are now live,” Anite said.

“With its substantial order book and increased profit from the growth in recurring revenue, travel is well placed to deliver a strong second half and thus achieve its expectation of low to mid single digit percentage profit growth.”

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