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Anite announces redundancies
Anite has released a trading statement announcing 10 redundancies from its Travel division.
In a statement the company said: “The Travel division continues to make good progress following the acquisition and integration of FSS, despite tough market conditions. Travel will also benefit from further cost savings made from a reduction of 12 employees” (another two are leaving).
Anite Group Financial Controller, Neil Bass told TravelMole: “FSS had a redundancy programme when we acquired it, this is just the balance of those people going”. Although Mr Bass could not name the twelve leaving, he said that one or two of them may be from Anite’s Travel division, although the majority would be people who joined Anite from FSS.
Anite also made a statement regarding My Travel, which it says is responsible for five percent of annual revenues for the Travel division.
The statement said: “We have a long-term managed services contract with MyTravel that continues to be implemented successfully and without interruption. The customer in return continues to meet all its obligations to us”.
Anite has stated that it has a positive outlook for the Travel division due to its strong market position and long-term nature of its managed contracts, although it said that the market remained challenging, and demand from customers was becoming less predictable.
The Group as a whole has achieved revenue growth in line with expectation, but rising costs, particularly in Research and Development, have impacted on margins. A statement said: “As indicated at the time of the Annual General Meeting in September, market conditions continue to be challenging but we remain confident that, for the year as a whole, the underlying performance of the Group will be in line with expectations”.
The group has announced that there will be 70 more redundancies, although this is unlikely to impact on the Travel division, as it will be principally within Public Sector.
Read our previous stories:
12-Jul-2002 Anite narrowly avoids crash landing
01-Jul-2002 The TravelMole Interview: Howard Frost, Travelink
04-Feb-2002 Anite/FSS merger under scrutiny
04-Dec-2001 Anite buys FSS Group
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