New customers boost revenue at Sanderson

SOFTWARE and IT services group Sanderson has reported a hike in revenue, partly as a result of a growing customer base.

In a pre-close trading update ahead of its results for the year ending September 30, the Coventry-based group revealed revenue for year will be in excess of £16m (2013: £13.80m) and adjusted operating profit growing by more than 20% to now exceed £2.7m (2013: £2.22m).  

Sanderson, which specialises in multi-channel retail and manufacturing markets in the UK and Ireland, said its balance sheet remains strong with a cash balance of just over £6m at year-end (30 September 2013: £3.66m).

Order intake has risen by more than 10% (on a ‘like-for-like’ basis) and the value of contracts signed with new customers during the year has risen by more than 15% to £1.9m (2013: £1.60m).  The order book at year-end, of £2.4m, was 20% higher than at the previous year.

One iota, the cloud-based, multi-channel solutions provider which was acquired in October 2013, has performed very well, Sanderson reports.

It has more than doubled revenue and profit when compared to its last full financial year, prior to acquisition. 

In September, following a successful pilot implementation, One iota secured its largest order to date, worth more than £400,000. 
 

 

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