Last checked at 21 Apr 2010 07:00
For Immediate Release 21st April 2010
SANDERSON GROUP PLC
Trading Update
"Positive Trading Momentum Continues To Gather Pace"
Sanderson Group plc ('Sanderson'), 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 interim results for the six month trading period ended 31st March 2010, due to be released in late May 2010.
The improved trading momentum, first experienced in the late summer of 2009, has been maintained throughout the first half of the current financial year. Revenues and Profitability are ahead of the comparative period last year and Order Intake, especially from new customers, has continued to increase. At the end of March, the Order Book was almost £1million ahead of the level at March 2009 and we anticipate that most of this increase will be delivered to customers during the second half of the current year ending 30th September 2010.
Cash generation has remained strong and net debt has continued to fall. At 31st March 2010, net debt was just above £9million, representing a reduction of over £900,000 from the end of the previous financial year at 30th September 2009.
The Board remains cautious ahead of the forthcoming General Election and the continued uncertainty with regard to the state of the general UK economy. However, the pipeline of business from new and existing customers, together with a strong Order Book, gives the Board confidence regarding the outlook for the financial year to 30th September 2010.
| Sanderson Group plc | 02476 555466 |
| Christopher Winn, Chairman |
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| Charles Stanley Securities - Nominated Advisor and Broker | 020 7149 6000 |
| Mark Taylor/Ben Johnston |
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| Winningtons Financial Paul Vann | 0117 985 8989 or 07768 807631 |
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