Revenues soar as software group smashes expectations
Digital tech solutions and software company Sanderson Group has enjoyed a revenue increase of almost 50 per cent in its latest financial year.
The business, which employs more than 300 people across eight UK offices, is a specialist provider of software and IT services for the retail, wholesale, supply chain logistics, food and drink processing and manufacturing market sectors.
It generated revenue of £32 million for the 12 months to 30 September 2018, according to its latest accounts published on the London Stock Exchange.
This was an increase of 49 per cent from a year earlier.
Pre-tax profits grew from £2.7 million to £3.2 million, prompting the company to increase its 2018 dividend by 13 per cent.
Chairman Christopher Winn said Sanderson Group’s results for the period are “significantly ahead of the prior year and also ahead of market expectations”.
The group, whose clients include Hotel Chocolat, Joe Browns and Tottenham Hotspur, hailed the performance of all its businesses including its digital retail division.
The order book at the end of the year stood at £7.58 million, up from £5.79 million the previous year.
CEO Ian Newcombe added: “The group has a clear growth strategy. Organic growth is planned from the fast expanding Digital Retail division and renewed growth impetus from the enlarged Enterprise division.
“There is an ongoing plan to accelerate the group’s growth with selective acquisitions. Sanderson has a good reputation having built-up a strong track record of delivering customer-centric solutions.
“Whilst the board is mindful of potential ongoing uncertainty surrounding economic conditions post the Brexit outcome, the board believes that Sanderson is well positioned in its target markets and has good sales prospects, backed by a healthy order book.”
Founded in 1983, Sanderson has offices in London, Bristol, Birmingham, Sheffield, Liverpool, Rossendale and Belfast. It also has an Australian home in Sydney.
The group employs 320 staff and has a customer base of approximately 800 clients.