Continued Good Trading

RNS Number : 4036R

Sanderson Group PLC

03 November 2011

 



For Immediate Release                                                                                                      3 November 2011

SANDERSON GROUP PLC

Trading Update

"Continued Good Trading following August Refinancing with HSBC"

Sanderson Group plc ('Sanderson' or 'The Group'), the software and IT services business specialising in multi-channel retail and manufacturing markets in the UK and Ireland, announces the following trading update ahead of the announcement of its preliminary results for the year ended 30^th September 2011, due to be released in late November 2011.

As reported with the Interim Results and later with the refinancing announcement in August, Sanderson has continued to trade well and profitability for the year ending 30^th September 2011 is in line with market expectations.

Sanderson continues to experience good trading momentum in its Manufacturing and Multi-Channel businesses, though the high street Retail market is more challenging.  Sanderson continues to gain new customers across the Group and the Multi-Channel business, having a focus on online sales, ecommerce and catalogue business, has performed particularly well during the year. 

Continued and increased investment in product innovation as well as in sales and marketing has further improved the Group's competitive market position.  The new SaaS and Cloud products were launched earlier in the year and the Group has won over half a million pounds worth of orders for the new Green IT products.  Future sales prospects are good.

Following the refinancing ahead of schedule in August, the Group's net debt has continued to fall and is now below £7.0 million.  Going forward, the annual savings from the re-banking with HSBC will save the Group just over £300,000 in the coming year.

Whilst the Board remains cautious as to the uncertain outlook in the general economy, better banking terms, improved competitive market position, success of new products and a strong order book, provide the Board with a good level of confidence going into the new financial year ending 30^th September 2012.

Sanderson Group plc	02476 555466
Christopher Winn, Chairman
Charles Stanley Securities - Nominated Advisor and Broker	020 7149 6000
Mark Taylor/Darren Vickers
Winningtons Financial Paul Vann	0117 985 8989 or 07768 807631

 

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