27th Oct 2015 08:39
LONDON (Alliance News) - Sanderson Group PLC Tuesday said trading in its recently-ended financial year was in line with market expectations and that it will post growth in revenue and adjusted operating profit when it releases its full results.
The software and IT services business said revenue in the year ended September 30 was over GBP19.0 million, up from the GBP16.4 million reported the year before, as adjusted operating profit grew to over GBP3.3 million, up from GBP2.8 million.
Sanderson said its mobile commerce business achieved revenue growth of over 75% in the year and it expects to continue seeing significant growth in that business going forward.
The manufacturing division, however, experienced slower trading conditions with some project and order delays, although Sanderson said a large customer order has been received since the year end, improving trading prospects for the current financial year.
"The overall economic environment appears 'mixed' and sales cycles continue to be protracted. The deployment and use of mobile technologies is continuing to develop with market demand accelerating. In the coming year, management expects to focus further efforts on delivering growth across the group's businesses but especially from the newly emerging digital retail market. Further complementary acquisitions will continue to be carefully considered by the board," the company said in a statement.
"Sanderson is well positioned in its target markets. Together, these factors provide the board with a good level of confidence that, at this early stage of the new financial year, the group will make further progress and deliver trading results which are, at least, in line with market expectations for the year ending September 30, 2016," it added.
Sanderson will release its results for the 2015 financial year on December 1.
Shares in Sanderson were trading up 2.1% at 67.38 pence early Tuesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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