15 February 2018 – AGM statement
An upbeat trading update has been released to coincide with the company’s AGM. The expanded group including the recently acquired Anisa business is expected to have revenue in excess of £30m, a high gross margin in the region of 80% and around 800 customers, supported by over 300 specialist staff. Overall trading performance is in line with management’s expectations. In the first third of the year revenues were approximately one-third ahead of the comparative four-month period to the end of January 2017. Excluding Anisa, like-for-like Sanderson revenues are around 5% higher and operating profit is approximately 10% ahead of the comparative period. The order book at 31 January was also strong, partly as a result of a large order gained in June 2017. The like-for-like order book is over 20% higher than a year earlier. The company has a bright future and although the share price has remained firm we keep our BUY rating..