1st Dec 2015 09:13
LONDON (Alliance News) - Sanderson Group PLC on Tuesday said it expects its trading results for its current financial year to be at least in line with market expectations, following revenue and profit growth in the last.
The software and IT services business, which specialises in retail and manufacturing markets in the UK and Ireland, said pretax profit increased to GBP2.0 million in the year ended September 30, from GBP1.9 million the prior year. Sanderson increased its dividend for the year as a whole to 2.1 pence from 1.8p.
Revenue grew by 17% to GBP19.2 million, while technical and development costs were up 25% to GBP7.9 million and administrative and establishment expenses up 2.0% to GBP3.8 million. Sales and marketing costs were up 19% to GBP2.2 million.
"The digital retail opportunity, in particular, provides exposure to a market sector which is experiencing rapid growth. Whilst the group will continue to invest across all of its businesses, particular emphasis will be placed on further developing the range of solutions for our fast growing digital retail businesses, for the food and drink processing sector and for entry level systems in the manufacturing division. Mobile solutions continue to be developed across all of the group's target markets," Chairman Christopher Winn said in a statement.
Shares in Sanderson were down 0.7% at 67.00p on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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