Mallett : Anite adjusted operating profits up 89%

Adjusted re-tax profits at Anite - a leading supplier of test and measurement solutions to the international wireless industry - more than doubled to £5.1m (2013: £2.5m) in the six months to the end of October. Revenue rose by 3% to £49.0m and adjusted operating profits were up 89% at £5.1m (2013: £2.7m). On a statutory basis, the company posts an operating profit from continuing operations of £1.0m (2013: loss of £0.7m), after share-based payments charge of £0.3m (2013: £0.6m); amortisation of acquired intangible assets of £2.4m (2013: £2.4m) and acquisition costs of £1.4m (2013: £0.4m). Profit from continuing operations before tax was £1.0m (2013: loss of £0.9m). Chief executive Christopher Humphrey said: "After a relatively slow start to the year, we finished the period with encouraging momentum building in both businesses. Specific sales opportunities are developing well and give us confidence for the year as a whole as we enter this seasonally important trading period." Story provided by StockMarketWire.com