Sanderson Group PLC AGM Statement (3001Y)
March 02 2017 - 2:01AM
UK Regulatory
TIDMSND
RNS Number : 3001Y
Sanderson Group PLC
02 March 2017
FOR IMMEDIATE RELEASE 2 MARCH 2017
SANDERSON GROUP PLC
Annual General Meeting (AGM) 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, will
hold its AGM in Coventry at 10.00 am, today. At the AGM, Chairman,
Christopher Winn, will make the following statement to
shareholders:
"Sanderson has made a solid start to the current financial year
ending 30 September 2017, maintaining the strong trading momentum
which has been built up over the last few years. In the four months
to 31 January 2017, sales orders have increased further from last
year's high levels and Group revenues are 8% ahead of the
comparative period of the previous year. The order book at 31
January has also continued to grow and is ahead of the level as at
the end of January 2016.
The Group's Digital Retail businesses which operate in very
active markets have experienced a strong increase in sales order
intake. A number of new sales prospects continue to be developed
and though sales cycles are quite long (usually over a year), a
number of pilot schemes for prospective customers are being planned
for initial deployment in the current financial year.
The Sanderson Enterprise businesses have also made a good start
to the new financial year and those businesses whose activities are
focused in the wholesale distribution, logistics and fulfilment
sectors have continued to grow steadily in this very active market
sector.
Sanderson has a robust business model, with over half of all
revenues being recurring and typically pre-contracted for a minimum
of a year ahead. This recurring revenue stream results in
predictable cash generation, which in turn supports the Group's
progressive dividend policy. A recommended final dividend of 1.4
pence per share, for approval at today's AGM, will make a total
dividend for last year of 2.4 pence per share, representing an
increase of 14% over the previous year. Notwithstanding any
potential uncertainty which may result from the forthcoming Brexit
negotiations, the Group's strong business model, cash-backed
balance sheet and positive business momentum, provide the Board
with a good level of confidence that the Group will make continued
progress in the current financial year ending 30 September
2017."
0333 123
Sanderson Group plc 1400
Christopher Winn, Chairman
Ian Newcombe, Chief Executive
Adrian Frost, Finance Director
N+1 Singer - Nominated Advisor and 020 7496
Broker 3000
Mark Taylor
James White
Walbrook PR 0117 985
Paul Vann 8989
or 07768
807631
This information is provided by RNS
The company news service from the London Stock Exchange
END
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