10 October 2018 – trading update
A detailed trading update has been released ahead of the announcement of final results for the year ended 30 September 2018 being released on 26 November. Sanderson acquired Anisa Group in November 2017 and on the back of this trading results are significantly ahead of last year and also slightly ahead of current market expectations. Group revenue rose to around £32m (2017: £21.6m) with gross margins continuing to run at high levels of 80%. Operating profit (stated before the amortisation of acquisition-related intangibles, share-based payment charges and ‘one-off’ non-recurring items) was up 30% to over £5m (2017: £3.90m). On a like-for-like basis excluding the effect of the acquisition, operating profit is expected to be slightly ahead of last year with revenue growing at over 5%. The order book at 30 September 2018 stood at over £7m (2017: £5.79m). We believe the company has solid prospects and continue to rate the shares as a BUY.