Sanderson notes in-line trading, revenue up on views

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.