IT firm expects revenues in excess of £30m following acquisition

Sheffield-based Sanderson, the software and IT services business, said it is expecting revenues in excess of £30m following its £12m acquisition of Anisa Group in November.

Ahead of the group’s annual general meeting today, chairman Christopher Winn said: “The Sanderson Group was expanded by the acquisition of the Anisa Group in November 2017, almost two months into the current financial year ending 30 September 2018.

“The expanded group is expected to have revenue in excess of £30m, a high gross margin in the region of 80% and around 800 customers who are supported by over 300 skilled and specialist staff.”

Winn said Anisa, a supply chain and enterprise resource planning company, has made a good start as part of Sanderson and the overall trading performance of the Sanderson Group is in line with management’s expectations.

Up to the end of January, four months into the new financial year, total group revenues are approximately one-third ahead of the comparative four-month period to the end of January in 2017, Sanderson said.

Excluding Anisa, like-for-like Sanderson revenues are around 5% ahead and operating profit is approximately 10% ahead of the comparative results for the four-month period to the end of January 2017.

“The order book at 31 January is also strong and partly reflecting the large order gained in June 2017 (over half of which is yet to be fulfilled), the `like-for-like` order book is over 20% ahead of the level as at the end of January 2017,” said Winn.

A recommended final dividend of 1.55 pence per share, for approval at today’s AGM, will make a total dividend for last year’s results of 2.65 pence per share, representing an increase of over 10% from the previous year (and an increase of 50% over the last three years, from the 1.8 pence paid for the year ending 30 September 2014).

Sanderson said: “The board remains cautious and conservative in its approach, but the good start made by Anisa, the strengthening and robust business model of Sanderson, the cash-backed balance sheet and the positive business momentum provide the board with a good level of confidence that the group will make continued progress in the current financial year ending 30 September 2018.”