Sanderson notes in-line trading, revenue up on views
Source - SMW
Sanderson Group said its FY trading results are in line with market expectations in terms of profit, whilst revenue is slightly ahead of expectations.
Revenue has grown by 10% to exceed £21m (2015: £19.2m) and adjusted operating profit has also increased by over 10% to about £3.69m (2015: £3.30m).
Sales order intake has grown to over £12m (2015: £10.03m) and has included over £3.8m of business gained from new customers, nearly double the £2.0m gained from new customers during the previous financial year ending 30 September 2015.
Reflecting this sales success, the Group order book at 30 September 2016 stood at £3.0m (2015: £2.35m). Pre-contracted recurring revenues increased to £10.76m (2015: £9.85m) representing over 50% of total revenue.
The Group's net cash balance at 30 September 2016 was £4.30m (30 September 2015: £4.61 million) reflecting the Group's continuing strong cash generation.
This balance also included both the payment of deferred consideration of £1.6m in respect of 2013 and 2014 acquisitions, as well as, total dividend payments in the year of £1.2m.