Sanderson Group PLC AGM Statement (3001Y)

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

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March 02, 2017 02:01 ET (07:01 GMT)