Mixed bag for Sanderson after sale of High Street arm
SOFTWARE group Sanderson has reported a dip in revenues in the six months to the end of March during what it describes as a “year of transition”.
The business, which focuses on the manufacturing and multi-channel retail markets in the UK and Ireland, recorded revenues for the period of £6.14m (2011: £7.04m). But its operating profit from continuing operations was up slightly at £0.80m (2011: £0.75m).
The business has operations in Batley, Bradford, and Sheffield.
Chairman Christopher Winn, said: “Whilst UK economic conditions have been challenging, Sanderson has continued to make good progress in what has become a year of transition, following the disposal of Sanderson RBS Limited.
“New products and services have strengthened the group’s competitive market position and a focus on active and expanding market sectors, such as online sales and ecommerce, has provided improved growth and development prospects.
“The group continues to generate cash and, following the disposal of Sanderson RBS, debt has been eliminated and the balance sheet greatly strengthened.”
The firm’s order book is also healthier than a year ago: £1.95m at period end (2011: £1.67m).
In January, the group sold Sanderson RBS, which specialised in the provision of electronic point of sale systems for major High Street retailers to Torex for £11.75m.
Sanderson says it is excited by the growth opportunities presented by the development of mobile applications (apps). It has recently launched an app which allows the group’s wholesale and cash and carry customers to access real-time information. The firm suggests this will greatly assist its ability to improve customer service and to increase sales.
