Last checked at 24 May 2017 07:00
FOR IMMEDIATE RELEASE 24 MAY 2017
SANDERSON GROUP PLC
Interim Results for the six months ended 31 March 2017
"Continued organic growth with both revenue and interim dividend up 10%"
Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in digital retail technology and enterprise software for businesses operating in the manufacturing, wholesale distribution and logistics sectors, announces its interim results for the six month period ended 31 March 2017.
Commenting on the results, Chairman, Christopher Winn, said:
"The Group has made further progress in the first half of the current financial year with revenue and operating profits both increasing during the period. Sanderson has a strong, cash-generative business model and this has enabled the Board to maintain a progressive dividend policy whilst continuing to invest in the further development of the Group's businesses. I am pleased to report that the Board is declaring an increase of 10% in the interim dividend to 1.1 pence per share (2016: 1.0 pence)."
Highlights - Financial
Revenue increased by over 10% to £10.90 million (2016: £9.86 million).Pre-contracted recurring revenues of £5.40 million (2016: £5.19 million), representing approximately 50% of total revenue.Operating profit* increased by 5% to £1.55 million (2016: £1.47 million).Basic earnings per share of 1.6 pence (2016: 1.7 pence).**Adjusted, basic earnings per share of 2.4 pence (2016: 2.3 pence).Net cash at the half year end of £4.51 million (March 2016: £3.39 million).Interim dividend up 10% to 1.1 pence per share (2016: 1.0 pence).
* Operating profit is stated before amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs.** Adjusted for amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs
Highlights - Operational
Sales order intake remained strong during the period of £5.81 million (2016: £6.02 million).Order book of £2.78 million at period-end (2016: £3.20 million) is well-balanced across the Group's businesses. Sales order intake of the Digital Retail division grew by almost 50% and revenue by 20%.Continued investment in product development, sales and marketing across the Group with particular emphasis on proprietary solutions using mobile technologies.Board change: By mutual agreement, Mr Adrian Frost, who has been with the Group since 2000 and has served as Group Finance Director since 2005, will be leaving the Group, later in the year.
On current trading and prospects, Group Chief Executive, Ian Newcombe, added:
"The Group's well-developed business model is to foster long-term customer relationships which result in a high proportion of sales arising from pre-contracted recurring revenue, complemented by incremental sales to its large, well established and growing customer base.
Sanderson continued to achieve a good level of business from both new as well as existing customers during the period. The Board continues to be cautious in its future planning, but notwithstanding any potential uncertainty which may result from the forthcoming Brexit negotiations, the good order book, healthy balance sheet, strong reputation and track record provide a good level of confidence that the Group will continue to make further progress and deliver trading results in line with market expectations for the current year ending 30 September 2017."
Enquiries:
Christopher Winn, Chairman 0333 123 1400
Ian Newcombe, Group Chief Executive
Adrian Frost, Finance Director
Mark Taylor/James White | 020 7496 3000 |
N+1 Singer (Nominated Adviser and Broker) |
|
Paul Vann, Walbrook PR Limited 0117 985 8989
This announcement contains inside information for the purposes of Article of EU Regulation 596/2014
SANDERSON GROUP PLCInterim Results for the six months ended 31 March 2017
CHAIRMAN'S STATEMENT
Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in digital retail technology and enterprise software for businesses operating in the manufacturing, wholesale distribution and logistics sectors, announces its interim results for the six month period ended 31 March 2017.
Financial results
The Group has made further progress during the period with revenue increasing by over 10% to £10.90 million (2016: £9.86 million) and operating profit* rising to £1.55 million (2016: £1.47 million). Gross margin remained high at 82% (2016: 86%), albeit slightly lower than the comparable period last year, reflecting the initial roll-out and installation of network, communications and hardware infrastructure necessary for the deployment of Sanderson solutions at new customer sites. Recurring revenues from pre-contracted licence and ongoing support services grew to £5.40 million (2016: £5.19 million) representing approximately 50% of total revenue in the period. Operating expenses increased by approximately £0.55 million as the Group continues to invest in its management, sales and delivery capacity in expectation of further and continued growth in the digital retail market. The Group order book at the period end was good and stood at a better balanced and more manageable level across the Group's businesses at £2.78 million (2016: £3.20 million). This compares with £3.02 million at the previous financial year-end on 30 September 2016.
The Board remains committed to pursuing a growth strategy based upon a conservative financing policy, the cornerstone of which is a strong balance sheet. Sanderson has an established history of converting substantially all of its profit to cash and at 31 March 2017, the Group's net cash balance was £4.51 million (2016: £3.39 million).
Dividend
The Board remains committed to maintaining a progressive dividend policy and is pleased to declare a further increase of 10% in the level of the interim dividend to 1.1 pence per share (2016: 1.0 pence). The dividend will be paid on 18 August 2017 to shareholders on the register at the close of business on 4 August 2017.
Strategy
The strategy of the Board is to achieve sustained growth by continuing to build and to develop the Sanderson business. Whilst investment is planned across all of the Group's businesses, particular emphasis will continue to be placed on enhancing the range of mobile and ecommerce solutions in Digital Retail and on further strengthening the Group's proposition in its Enterprise Software division, especially in Food and Drink processing. Sanderson has enjoyed considerable success and has built a strong reputation over a number of years, within the wholesale distribution market where further investment is planned together with complementary products covering the logistics, fulfilment and supply chain market areas. Mobile solutions continue to be developed to address all of the Group's target markets.
In order to augment organic growth, selective acquisition opportunities are under continued consideration and a number of potential opportunities are currently being developed. Management adopts a careful and measured approach to acquisitions and cautiously considers any risks which might be involved. The Board remains focused upon further increasing shareholder value by continuing to deliver both organic and acquisitive growth, achieving 'on target' results, increased earnings, maintaining good cash generation and a robust balance sheet. This enables the Board to maintain progressive dividend returns to shareholders.
Board change
By mutual agreement, Mr Adrian Frost, who has been with the Group since 2000 and has served as Group Finance Director since 2005, will be leaving the Group, later in the year. The Board would both like to thank Adrian for his contribution to the growth and development of Sanderson, as well as, to wish him all the best for the future.
Management and staff
Sanderson staff have a high level of experience and specialist expertise in the market sectors which the Group addresses. On behalf of the Board, I would again like to thank everyone for their hard work, support, dedication and contribution to the ongoing development of the Group.
Christopher WinnChairman24 May 2017
SANDERSON GROUP PLCInterim Results for the six months ended 31 March 2017
GROUP CHIEF EXECUTIVE'S BUSINESS REVIEW
The target market for Sanderson products and services primarily comprises small and medium-sized enterprises. The Group's well-developed business model is to foster long-term customer relationships which result in a high proportion of sales arising from pre-contracted recurring revenue, complemented by incremental sales to its strong, well established and growing customer base. This steady business stream usually accounts for around 90% of Group revenues. Sanderson proprietary software is developed in anticipation of technological developments and in conjunction and collaboration with its large customer base. Sanderson proprietary software is marketed and sold under licence with all sales, marketing, delivery, support and services being carried out by the Group's own expert staff.
Group business solutions are developed and marketed in order to provide customers with 'value for money' IT systems, designed to offer timely and tangible business benefits. These solutions typically enable customers to increase revenue whilst also achieving additional efficiencies by making and maintaining cost savings, both often achieved within twelve months of implementation. The Group continues to both invest in the development of its software products and services, as well as in increasing its sales and marketing capacity and capability. Particular emphasis has been placed on the Sanderson businesses specialising in the UK food and drink processing, wholesale distribution sectors and especially, in the market for digital retail solutions with the development of mobile and ecommerce solutions. These solutions enable retailers to capitalise on the significant growth arising from the widespread adoption of smartphones and tablets and to exploit 'mobile' as a sales channel that is fully integrated with existing business systems. Reflecting both prior and continuing investment in the Group's sales and marketing function, following a record half year in 2016, when ten new customers generated orders to the value of £2.08 million, Sanderson continued to achieve a high level of sales order intake during the period of £5.81 million (2016: £6.02 million; 2015: £4.94 million; 2014: £4.24 million) and eight new customers contributed orders to the value of £0.95 million in the period.
Review of Digital Retail division
Sanderson provides comprehensive IT solutions to businesses operating in the ecommerce, mobile commerce and retail sectors of the UK. Mobile enablement and deployment continues to be a key business driver in this market sector with increasing levels of business activity.
Revenue increased by 20% to £3.54 million (2016: £2.95 million), whilst operating profits* of £0.34 million (2016: £0.33 million) reflect the planned further investment in management, sales and delivery capacity in anticipation of continued growth within the digital retail market. Sales order intake grew by almost 50% compared with the comparable period last year. Demand from existing customers for the Group's latest release of its ecommerce solution continued to grow with sales orders gained from a number of customers including Axminster Tool Centre Limited and Joe Browns. The mobile solutions business continue to benefit from increased demand for additional roll-out and implementation of its in-store sales solutions for its existing customers, such as Superdry, in a number of their UK and European retail outlets. Additional in-store mobile solutions were installed at Lifestyle Sports in Ireland. The fully integrated 'connected retail' solution enables retail customers to order anywhere, on any device, using any payment method and to have their order delivered wherever they choose.
The period end order book stood at £0.84 million (2016: £0.78 million) and with a number of good sales prospects, active pilot schemes and strengthening partnerships with existing customers, the Digital Retail business is well-positioned to take advantage of continued growth in this market.
Review of Enterprise Software division
The Enterprise Software division of Sanderson comprises two market-focused businesses which are focused upon the manufacturing sector and the wholesale distribution and logistics sectors. Divisional revenue and operating profit* increased to £7.36 million (2016: £6.92 million) and £1.21 million (2016: £1.15 million) respectively. The Enterprise division now has a good order book which, is better balanced over the different businesses and at period end, was valued at £1.93 million (2016: £2.42 million). The priority remains on delivering a significant proportion of these orders before the end of the current financial year.
Enterprise - Manufacturing
Businesses in the engineering, plastics, aerospace, electronics, print ('general manufacturing') and food and drink processing sectors represent the main areas of specialisation for Sanderson in manufacturing markets. Sanderson continues to invest in product development and in its sales and marketing capability. Traceability of products and ingredients through the food manufacturing and supply chain and the assurance of product compliance with the latest regulatory standards continue to be strong features of the Group's solution; these are key requirements for businesses operating in the food and drink processing industry.
The Manufacturing business gained four new customers during the period (2016: five new customers), including Tomlinsons Dairies Limited, at an average order value of £143,000. Revenue for the period was £3.15 million (2016: £3.25 million). Recurring revenue represents 59% of total divisional revenue and covers over three-quarters of divisional overheads.
Enterprise - Wholesale Distribution and Logistics
The Group has expanded the application of Sanderson solutions for the wholesale distribution, cash and carry and fulfilment sectors into the specialist warehousing, logistics and supply chain market sectors. Four new customers were gained during the period, including H B Clark & Co and Andertons Music Company. This compares with five new customers in the comparative period of 2016. Large orders from existing customers included Tottenham Hotspur and Clipper Logistics plc. Revenue increased by 15% to £4.21 million (2016: £3.66 million).
Outlook
We continue to be measured in our business approach, sensitive to market conditions and endeavour to monitor the general economic climate and environment. The general economic environment still seems good, but there does seem to be a slightly more considered approach from some customers. Sales cycles often remain protracted, particularly where big projects are being considered especially by larger customers. The Group continued to achieve a good level of business from both new as well as existing customers during the period. The Board continues to be cautious in its future planning, but notwithstanding any potential uncertainty which may result from the forthcoming Brexit negotiations, the good order book, healthy balance sheet, strong reputation and track record provide a good level of confidence that the Group will continue to make further progress and deliver trading results in line with market expectations for the current year ending 30 September 2017.
Ian Newcombe
Group Chief Executive
24 May 2017
* Operating profit is stated before amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs.
CONSOLIDATED INCOME STATEMENT
|
Note | Unaudited six months to 31/03/17 £000 | Unaudited six months to 31/03/16 £000 | Audited year to 30/09/16 £000 |
|
|
|
|
|
Revenue | 2 | 10,900 | 9,860 | 21,320 |
Cost of sales |
| (1,912) | (1,359) | (3,399) |
Gross profit |
| 8,988 | 8,501 | 17,921 |
|
|
|
|
|
Other operating expenses |
| (7,877) | (7,327) | (14,895) |
Results from operating activities | 2 | 1,111 | 1,174 | 3,026 |
|
|
|
|
|
Results from operating activities before adjustments in respect of the following: |
2 |
1,552 |
1,474 |
3,686 |
Amortisation of acquisition-related intangibles |
| (246) | (258) | (513) |
Acquisition related costs |
| (175) | - | (62) |
Share-based payment charges |
| (20) | (42) | (85) |
Results from operating activities | 2 | 1,111 | 1,174 | 3,026 |
Net finance expense |
| (91) | (84) | (153) |
Acquisition-related finance expense |
| (6) | (61) | (92) |
Profit before taxation |
| 1,014 | 1,029 | 2,781 |
Taxation |
| (141) | (91) | (354) |
Profit for the period attributable to equity holders of the parent |
|
873 |
938 |
2,427 |
Earnings per share
From profit attributable to the owners of the parent undertaking during the period |
|
|
|
|
Basic earnings per share | 3 | 1.6p | 1.7p | 4.4p |
Diluted earnings per share | 3 | 1.5p | 1.7p | 4.3p |
|
|
|
|
|
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
|
| Unaudited six months to 31/03/17 £000 | Unaudited six months to 31/03/16 £000 | Audited year to 30/09/16 £000 | |
Profit for the period |
| 873 | 938 | 2,427 | |
Other comprehensive income/(expense) |
|
|
|
| |
Items that will not subsequently be reclassified to profit or loss |
|
|
|
| |
Remeasurement of net defined benefit liability |
| - | - | (3,678) | |
Deferred taxation effect of defined benefit pension plan items |
| - | - | 568 | |
|
| - | - | (3,110) | |
|
|
|
|
| |
Items that will subsequently be reclassified to profit or loss |
|
|
|
| |
Change in the fair value of available for sale financial asset |
| (4) | 2 | 19 | |
Foreign exchange translation differences |
| (15) | (63) | 31 | |
|
|
|
|
| |
Total comprehensive income/(expense) for the period |
| 854 | 877 | (633) | |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
|
| Unaudited as at31/03/17 £000 | Unaudited as at31/03/16 £000 | Audited as at30/09/16 £000 |
Non-current assets |
|
|
|
|
Intangible assets |
| 30,316 | 30,502 | 30,473 |
Property, plant & equipment |
| 543 | 528 | 524 |
Deferred tax asset |
| 1,645 | 1,311 | 1,755 |
Investments |
| 150 | - | - |
|
| 32,654 | 32,341 | 32,752 |
Current assets |
|
|
|
|
Inventories |
| 30 | 98 | 20 |
Trade and other receivables |
| 5,496 | 5,534 | 7,032 |
Current tax |
| - | - | - |
Other short-term financial assets |
| 205 | 192 | 209 |
Cash and cash equivalents |
| 4,509 | 3,386 | 4,344 |
|
| 10,240 | 9,210 | 11,605 |
Current liabilities |
|
|
|
|
Trade and other payables |
| (3,361) | (3,871) | (4,570) |
Deferred consideration |
| (102) | (201) | (155) |
Current tax liabilities |
| (374) | (83) | (337) |
Deferred income |
| (5,044) | (4,827) | (5,270) |
|
| (8,881) | (8,982) | (10,332) |
|
|
|
|
|
Net current assets |
| 1,359 | 228 | 1,273 |
Total assets less current liabilities |
| 34,013 | 32,569 | 34,025 |
|
|
|
|
|
Non-current liabilities |
|
|
|
|
Deferred tax liabilities |
| (749) | (936) | (824) |
Deferred consideration |
| (110) | (160) | (115) |
Pension and other employee obligations |
| (8,066) | (4,539) | (8,155) |
|
| (8,925) | (5,635) | (9,094) |
|
|
|
|
|
Net assets |
| 25,088 | 26,934 | 24,931 |
|
|
|
|
|
Equity |
|
|
|
|
Called-up share capital |
| 5,500 | 5,480 | 5,485 |
Share premium |
| 9,094 | 9,048 | 9,056 |
Available for sale reserve |
| 75 | 62 | 79 |
Foreign exchange reserve |
| (71) | (150) | (56) |
Retained earnings |
| 10,490 | 12,494 | 10,367 |
Total equity |
| 25,088 | 26,934 | 24,931 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the six month period to 31 March 2017
| Share capital £000 | Share premium £000
| Other reserves £000
| Retained earnings £000 | Total equity £000
|
At 1 October 2016 | 5,485 | 9,056 | 23 | 10,367 | 24,931 |
Exercise of share options | 15 | 38 | - | - | 53 |
Dividend paid | - | - | - | (770) | (770) |
Share-based payment charge | - | - | - | 20 | 20 |
Transactions with owners | 15 | 38 | - | (750) | (697) |
Profit for the period | - | - | - | 873 | 873 |
Other comprehensive income: |
|
|
|
|
|
Foreign exchange translation difference | - | - | (15) | - | (15) |
Change in market value of short-term financial asset | - | - | (4) | - | (4) |
Total comprehensive expense | - | - | (19) | 873 | 854 |
|
|
|
|
|
|
At 31 March 2017 | 5,500 | 9,094 | 4 | 10,490 | 25,088 |
For the six month period to 31 March 2016
| Share capital £000 | Share premium £000
| Other reserves £000
| Retained earnings £000 | Total equity £000
|
At 1 October 2015 | 5,460 | 9,023 | (27) | 12,171 | 26,627 |
Exercise of share options | 20 | 25 | - | - | 45 |
Dividend paid | - | - | - | (657) | (657) |
Share-based payment charge | - | - | - | 42 | 42 |
Transactions with owners | 20 | 25 | - | (615) | (570) |
Profit for the period | - | - | - | 938 | 938 |
Other comprehensive income: |
|
|
|
|
|
Foreign exchange translation difference | - | - | (63) | - | (63) |
Change in market value of short-term financial asset | - | - | 2 | - | 2 |
Total comprehensive expense | - | - | (61) | 938 | 877 |
|
|
|
|
|
|
At 31 March 2016 | 5,480 | 9,048 | (88) | 12,494 | 26,934 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (continued)
For the year ended 30 September 2016
| Share capital £000 | Share premium £000
| Other reserves £000
| Retained earnings £000 | Total equity £000
|
At 1 October 2015 | 5,460 | 9,023 | (27) | 12,171 | 26,627 |
Exercise of share options | 25 | 33 | - | - | 58 |
Dividend paid | - | - | - | (1,206) | (1,206) |
Share-based payment charge | - | - | - | 85 | 85 |
Transactions with owners | 25 | 33 | - | (1,121) | (1,063) |
Profit for the year | - | - | - | 2,427 | 2,427 |
Other comprehensive income: |
|
|
|
|
|
Remeasurement of net defined benefit liability |
- |
- |
- |
(3,678) |
(3,678) |
Deferred tax on above | - | - | - | 568 | 568 |
Foreign exchange translation differences | - | - | 31 | - | 31 |
Change in fair value of available for sale financial asset | - | - | 19 | - | 19 |
Total comprehensive income | - | - | 50 | (683) | (633) |
|
|
|
|
|
|
At 30 September 2016 | 5,485 | 9,056 | 23 | 10,367 | 24,931 |
|
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|
|
|
|
CONSOLIDATED STATEMENT OF CASH FLOWS
| Note | Unaudited six months to 31/03/17 £000 | Unaudited six months to 31/03/16 £000 | Audited year to 30/09/16 £000 |
|
|
|
|
|
Profit for the period |
| 873 | 938 | 2,427 |
Adjustments for: |
|
|
|
|
Depreciation and amortisation |
| 669 | 596 | 1,225 |
Share-based payment charges |
| 20 | 42 | 85 |
Net finance expense |
| 97 | 145 | 245 |
Income tax expense |
| 141 | 91 | 354 |
Operating cash flow from continuing operations before working capital movements |
| 1,800 | 1,812 | 4,336 |
Movement in working capital |
| (5) | (179) | (362) |
Cash generated by continuing operations |
| 1,795 | 1,633 | 3,974 |
Income tax paid |
| - | - | - |
Payments to defined benefit pension scheme |
| (180) | (180) | (330) |
Net cash from operating activities |
| 1,615 | 1,453 | 3,644 |
|
|
|
|
|
Investing activities |
|
|
|
|
Purchases of property, plant & equipment |
| (134) | (127) | (254) |
Investment in unlisted company |
| (150) | - | - |
Deferred consideration paid |
| (62) | (1,538) | (1,660) |
Dividend received |
| - | - | 15 |
Bank interest received |
| - | 6 | 12 |
Expenditure on product development |
| (387) | (403) | (872) |
Net cash received used in investing activities |
| (733) | (2,062) | (2,759) |
|
|
|
|
|
Financing activities |
|
|
|
|
Equity dividends paid | 4 | (770) | (657) | (1,206) |
Issue of shares, net of costs |
| 53 | 45 | 58 |
Settlement of share options |
| - | - | - |
Net cash used in financing activities |
| (717) | (612) | (1,148) |
|
|
|
|
|
Increase/(decrease)/in cash and cash equivalents |
| 165 | (1,221) | (263) |
Cash and cash equivalents at start of the period |
| 4,344 | 4,607 | 4,607 |
Cash and cash equivalents at end of the period |
| 4,509 | 3,386 | 4,344 |
NOTES TO THE INTERIM RESULTS
1. Basis of preparation
The Group's interim results for the six month period ended 31 March 2017 are prepared in accordance with the Group's accounting policies which are based on the recognition and measurement principles of International Financial Reporting Standards ('IFRS') as adopted by the EU and effective, or expected to be adopted and effective, at 30 September 2017. As permitted, this interim report has been prepared in accordance with the AIM rules and not in accordance with IAS34 'Interim financial reporting'.
These interim results do not constitute full statutory accounts within the meaning of section 434(5) of the Companies Act 2006 and are unaudited. The unaudited interim financial statements were approved by the Board of Directors on 23 May 2017.
The consolidated financial statements are prepared under the historical cost convention as modified to include the revaluation of financial instruments. The statutory accounts for the year ended 30 September 2016, which were prepared under IFRS, have been filed with the Registrar of Companies. These statutory accounts carried an unqualified Auditors' Report and did not contain a statement under either Section 498(2) or (3) of the Companies Act 2006.
The Group is managed as two separate divisions: Enterprise Software and Digital Retail. Substantially all revenue is generated within the UK.
| Enterprise |
| Digital Retail |
| Total | |||||||||||
| Six months 31/03/17£000 | Six months 31/03/16 £000 | Year Ended 30/09/16£000 |
| Six months 31/03/17 £000 | Six months 31/03/16 £000 | Year Ended 30/09/16 £000 |
| Six months 31/03/17 £000 | Six months 31/03/16 £000 | Year Ended 30/09/16 £000 | |||||
Revenue | 7,363 | 6,915 | 14,922 |
| 3,537 | 2,945 | 6,398 |
| 10,900 | 9,860 | 21,320 | |||||
|
|
|
|
|
|
|
|
|
|
|
| |||||
Operating profit before adjustments* | 1,208 | 1,146 | 2,801 |
| 344 | 328 | 885 |
| 1,552 | 1,474 | 3,686 | |||||
Amortisation | (113) | (125) | (247) |
| (133) | (133) | (266) |
| (246) | (258) | (513) | |||||
Share-based payment | (7) | (16) | (32) |
| (13) | (26) | (53) |
| (20) | (42) | (85) | |||||
Acquisition- related costs | (175) | - | (62) |
| - | - | - |
| (175) | - | (62) | |||||
Operating profit | 913 | 1,005 | 2,460 |
| 198 | 169 | 566 |
| 1,111 | 1,174 | 3,026 | |||||
Net finance expense |
|
|
|
|
|
|
|
| (97) | (145) | (245) | |||||
Profit before tax;continuing operations |
|
|
|
|
|
| 1,014 | 1,029 | 2,781 | |||||||
* Adjustments to operating profit in respect of amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs.
3. Earnings per share
|
|
|
|
| ||
|
| Unauditedsix months to 31/03/17 £000 | Unauditedsix months to 31/03/16 £000 | Auditedyear to 30/09/16 £000 |
| |
|
|
|
|
|
| |
| Earnings: |
|
|
|
| |
| Result for the period from continuing operations | 873 | 938 | 2,427 |
| |
| Amortisation of acquisition-related intangibles | 246 | 258 | 513 |
| |
| Share-based payment charges | 20 | 42 | 85 |
| |
| Acquisition-related costs | 175 | - | 62 |
| |
| Adjusted profit for the period from continuing operations | 1,314 | 1,238 | 3,087 |
| |
Number of shares: | Unauditedsix months to 31/03/17 No. | Unauditedsix months to 31/03/16 No. | Auditedyear to 30/09/16 No. |
|
|
|
|
In issue at the start of the year | 54,851,985 | 54,600,550 | 54,600,550 |
Effect of shares issued in the period | 102,058 | 81,658 | 173,846 |
Weighted average number of shares at period end | 54,954,043 | 54,682,208 | 54,774,396 |
Effect of share options | 2,375,114 | 1,626,719 | 1,520,615 |
Weighted average number of shares (diluted) | 57,329,157 | 56,308,927 | 56,295,011 |
Earnings per share: | Unauditedsix months to 31/03/17 (pence) | Unauditedsix months to 31/03/16 (pence) | Auditedyear to 30/09/16 (pence) |
Total attributable to equity holders of the parent undertaking: |
|
|
|
Basic | 1.6 | 1.7 | 4.4 |
Diluted | 1.5 | 1.7 | 4.3 |
Earnings per share, adjusted, from continuing operations: |
|
|
|
Basic | 2.4 | 2.3 | 5.6 |
Diluted | 2.3 | 2.2 | 5.5 |
4. Equity dividends paid
|
| UnauditedSix months to 31/03/17 £000 | UnauditedSix months to 31/03/16 £000 | AuditedYear to 30/09/16 £000 | ||
Interim dividend |
| - | - | 549 | ||
Final dividend |
| 770 | 657 | 657 | ||
Total dividend paid in period |
| 770 | 657 | 1,206 | ||
5. Interim report
The Group's interim report will be sent to the Company's shareholders. This report will also be available from the Company's registered office and on the Company's website www.sanderson.com.