Sanderson Group reports good trading momentum
By BFN News | 08:17 AM | Friday 16 March, 2012
During the current financial year, Sanderson Group has continued to maintain good trading momentum in what remains a challenging economic environment.
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.
Up to the end of February, order intake is around ten per cent ahead of the comparative period of the previous financial year and the order book is strong.
The strengthened balance sheet, the elimination of debt and the continued strong cash generation of the Group, provide the Board with the confidence to substantially increase the annual dividend in the coming year from 0.75 pence to 1.2 pence, representing an increase of over 50%.
Speaking at the AGM, Chairman, Christopher Winn, made the following statement: "The strategy of the Sanderson Board and management is to achieve growth both organically through investment in new products and services as well as by selective acquisitions as opportunities arise.
"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."
At 8:17am: (LON:SND) Sanderson Group share price was 0p at 37.5p
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