Sanderson to invest in ecommerce solutions after results boost
SOFTWARE and IT services group Sanderson has reported “significant progress” with revenue up by nearly £3m.
In its preliminary results for the year ended September 30, the Coventry-based group – which specialises in multi-channel retail and manufacturing markets in the UK and Ireland – reported that revenue had increased to £16.41m, a healthy increase on 2013’s £13.83m figure.
Profit before tax was stable at £1.92m (2013: £1.94m).
There were significant increases in multi-channel retail division revenue and operating profits to £9.68m (2013: £7.23m) and £1.89m (2013: £1.28m) respectively.
Company chairman Christopher Winn said: “The group has achieved further significant progress during the year. Sanderson continues to convert substantially all of its profit into cash and this strong cash generation has enabled us to maintain a progressive dividend policy whilst continuing to invest in and develop the group’s businesses.
“The multi-channel retail division performed very well, in particular, One iota, acquired in October 2013, which secured its largest order to date in September valued in excess of £400,000.
“Across the group, order intake rose by over 10% on a like-for-like basis while the value of contracts signed by new customers during the year rose by more than 15% to £1.9m.
“Whilst the group plans to continue to invest across all of its businesses, particular emphasis is expected to be placed on developing further the range of solutions for ecommerce and mobile commerce businesses, as well as, for the food and drink processing sector.
“Selective acquisition opportunities will continue to be carefully considered to augment organic growth but the management priority is to focus upon delivering ‘on target’ results and on making the previous acquisitions successful.”