30th Apr 2018 12:32
LONDON (Alliance News) - Sanderson Group PLC on Monday said trading in the first half of its financial year has been slightly ahead of its expectations as revenue and profit both rose by more than 30%.
Revenue for the six months ended March was slightly above GBP14.5 million, up from GBP10.9 million a year prior. Sanderson's operating profit grew to more than GBP2.0 million compared to GBP1.6 million the prior year.
During the period Sanderson, an IT services business, bought Anisa Group for GBP12.0 million, and Sanderson said Anisa has made a good start as part of the enlarged group.
Excluding this acquisition, revenue increased to just over GBP11.0 million from GBP10.9 million, while operating profit rose to more than GBP1.7 million from GBP1.6 million.
Sanderson said sales order intake "continues to be good" and its order book at the end of March on a like-for-like basis was more than 15% higher than a year before. Its total order book is now valued at above GBP8.0 million.
Its Digital Retail division is making "strong" progress, it said, with first half revenue rising more than 20% year-on-year and profit almost doubling. Sanderson is also making good progress in its Enterprise division.
Given the strong first half, large order book, and sales momentum, Sanderson is confident on making "significant" further progress in its year ending September.
Shares were up 8.4% on Monday at 95.90 pence each.
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