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Anite first-half profit falls 64 pct on contract delays

Reuters - UK Focus

Dec 9 (Reuters) - Software (Xetra: 330400 - news) company Anite Plc (LSE: AIE.L - news) reported a 64 percent drop in first-half profit, hurt by contract delays in its core handset-testing business.

The company, which provides handset-testing systems to wireless companies and reservation software to the travel industry, said it expected second-half revenue to improve on the first half with material improvement in handset testing.

Profit before tax fell to 5.1 million pounds ($8.3 million) in the six months ended Oct (KOSDAQ: 039200.KQ - news) . 31 from 14.3 million pounds a year earlier.

Revenue dropped 6 percent to 57.5 million pounds. Revenue from its handset-testing business, which accounted for about 55 percent of total revenue, dropped 21 percent.