Sanderson set to invest in ecommerce for growth
SOFTWARE group Sanderson has said it plans to invest in its ecommerce business to secure growth and expand its presence in the fast growing market for online, catalogue and internet sales.
The Coventry-based group, which supplies software and IT services business to the retail and manufacturing sectors, said its AGM statement today that it had continued to maintain good trading momentum in what remained a challenging economic environment.
In the statement, chairman Christopher Winn said: “The new product suites which the group has launched over the last two years have continued to be successful, particularly the latest versions of the e-commerce software in the multi-channel business and the factory and warehouse automation software in the manufacturing division.
“Together these have made the group more competitive and have contributed to both the winning of new customers, as well as an improvement in trading.
“The group is planning to increase investment in its ecommerce software business and to expand the Sanderson presence in the fast growing market for online, catalogue and internet sales in order to drive further growth.”
He added that up to the end of February, order intake was around 10% ahead of the comparative period last year and the group’s order book was strong.
Mr Winn said the £11.5m sale of Sanderson RBS Ltd, which specialised in the sale of ‘electronic point of sale’ solutions to major high street retailers, to Torex Retail Holdings Ltd had completed and the proceeds had enabled the group to repay its bank debt and to leave a positive cash balance of approximately £4m.
“The group has made an encouraging start to the current financial year and whilst the board is mindful and cautious in the face of general economic conditions, the improved competitive market position of Sanderson provides the board with a good level of confidence for achieving the current year targets,” he added.
