23rd May 2018 12:40
LONDON (Alliance News) - Sanderson Group PLC, which provides software for retail, manufacturing and wholesale distribution businesses, said on Wednesday it performed strongly in the first half of its financial year, ahead of management expectations.
For the six months to the end of March, pretax profit rose to GBP1.4 million from GBP1.0 million the year before, on revenue that grew by 34% to GBP14.6 million from GBP10.9 million.
Revenue growth was helped by the GBP12.0 million acquisition of Anisa Group on November, and organic growth in its Digital Retail and Enterprise divisions.
The total order book, including Anisa rose significantly to GBP8.6 million from GBP2.8 million.
Sanderson declared an interim dividend of 1.25 pence per share, up 14% from 1.10p the year before.
"We continue to be measured in our business approach, sensitive to the general economic environment and we monitor customer confidence and market conditions carefully. Whilst the group has not detected any major loss of confidence amongst its customers and that the value of prospects is increasing, sales cycles can still be protracted, especially where major projects are under consideration," said Chief Executive Ian Newcombe.
"Combined with the group's proven reputation, well-established track record and continuing sales momentum, the board has a good level of confidence that Sanderson will make significant further progress during the current financial year ending September 30, 2018," Newcombe added.
Shares in Sanderson Group were up 6.4% at 111.70 pence on Wednesday.
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