Anite tanks after profit warning

Shares in Anite plunged more than 30 per cent to 76.75p yesterday after the software company warned that revenues in its handset business are likely to be down 25 per cent on the same period last year. Anite said the ongoing shake-up of the handset market, with mergers and takeovers for the likes of Nokia, Microsoft and Blackberry, have knocked its contract pipeline. It believes that full-year profits will be below expectations.