Sanderson on track and debt free after selling High Street arm

COVENTRY-based software group Sanderson is now debt-free following the sale of its high street retail-focused business Sanderson RBS in January for £11.75m.

In an statement ahead of the announcement of its interim results for the half year ended March 31, the firm – which specialises in multi-channel retail and manufacturing markets in the UK and Ireland – said trading results for continuing operations will show revenue in excess of £6m and profit of approximately £0.8m – 6% cent ahead of the comparable period last year.

Overall order intake was up by around 10% during the period and at March 31 31 the value of the order book had increased by more than 30% since the previous year end in September. The order intake in the Sanderson ecommerce software business, which addresses the fast growing market for online, catalogue and internet sales, was ahead more than 25% compared with the same period in 2011.

Following the sale of Sanderson RBS, the group has a strengthened balance sheet and is debt-free.

Its board said it has a good level of confidence that Sanderson is on track to achieve its financial targets for the full year ending September 30.