Sanderson on acquisition trail
SOFTWARE and IT services business Sanderson Group has reported a surge in orders and is now on the hunt for acquisition targets.
In a trading update ahead of the announcement of its preliminary results for the year to the end of September, the firm, which specialises in multi-channel retail and manufacturing markets in the UK and Ireland, said that up until the end of August it has seen a 10% increase in orders compared to the comparative period last year.
Following the sale of Sanderson RBS Limited in January, the group has focused on developing and further growing its businesses in the multi-channel retail and manufacturing markets and has invested in new products and services.
Growth has been most noticeable in the multi-channel business. The multi-channel division has secured two large orders from new customers, each worth approximately £250,000 and by the end of July 2012, after ten months of the current year, order intake for the multi-channel division exceeded the total order intake for the whole of the previous year.
As a result of the strong order intake and the winning of new customers, Sanderson expects trading performance will now be slightly ahead of the board’s expectations for the year.
Sanderson said that while the UK economic environment remains challenging and whilst it is affected by these market conditions, continued investment in product development and in sales and marketing has further strengthened the group’s competitive market position.
In light of this it is seeking potential takeover targets.
“The group continues to look carefully at acquisition opportunities in both the manufacturing and multi-channel retail markets,” it said.