22nd Jan 2019 12:43
LONDON (Alliance News) - Sanderson Group PLC on Tuesday said it saw a double-digit growth in earnings in the first half of its current financial year, helped by the acquisition of Anisa.
Ahead of its annual general meeting, the digital technology solutions provider said it has made a good start to the current financial year that began in October, with first-quarter revenue and profit rising by 20% on the prior year.
The growth was boosted by the contribution Anisa Consolidated Holdings Ltd , whose purchase was completed in November 2017. Anisa is a supply chain and enterprise resource planning solutions provider.
Sales order intake levels in the first quarter have also been encouraging, Sanderson said, as the numbers of new customers increased.
"The order book has grown, providing a good level of confidence going into the second quarter of the financial year," said Chair Christopher Winn.
On the divisional basis, the company said its Digital Retail division has continued to grow both revenue and operating profit at double-digit rates.
"Notwithstanding reports of mixed trading performances from retailers generally, the Sanderson Digital Retail division remains active with good sales prospects, a number of ongoing pilot projects and continuing levels of sales activity in the existing customer base," Winn highlighted.
The Sanderson Enterprise division has also made an encouraging start to the year, the company noted, driven by a newly developed suite of business solutions.
Meanwhile, the supply chain logistics division continues to deliver robust results and has strong sales prospects.
Sanderson declared a final dividend of 1.75 pence per share for approval at Tuesday's annual general meeting. This will make a total dividend for the company's financial 2018 of 3.00p per share, representing an increase of over 13% from the prior year.
"The board continues to adopt a cautious approach and is mindful of the current levels of economic uncertainty surrounding Brexit, but the group's robust business model, cash-backed balance sheet and good start to the year with strong sales prospects provide the board with a continued good level of confidence that Sanderson will make further progress in the current financial year ending September 30," added Winn.
Sanderson shares were trading 2.0% higher on Tuesday at 96.40 pence each.
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