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Anite first-half profit falls 64 percent on contract delays in handset-testing

Reuters--Software company Anite Plc. 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 (US$8.3 million) in the six months ended Oct. 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.

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