Shares in software and IT services group Sanderson Group (LON:SND) were up by 12% to 27.5p in early trading today on news that the group had continued to outperform expectations in the year to September. Of particular note, group debt, which has been seen in recent years as a drag on the share price, fell substantially during the year, again ahead of market expectations, to £8.0m from £9.96m a year earlier.

Sanderson specialises in software and services for the multi-channel retail and manufacturing markets in the UK and Ireland. On the retail side, it has a particular strength in online systems, wholesale and distribution systems, distance selling and mail order catalogue and general retailer solutions. In manufacturing, its clients are typically niche players who need strong quality control systems.

The company said that following the successful introduction of Factory Automation and Business Assurance suites of products and services, it had continued to expand organically and develop its managed service business. During the coming year, using the strong platform of this managed service business, the group plans to launch a number of products and services based on the 'Software as a Service' model. The group is also introducing a range of Green IT products which will enable customers to reduce power consumption from existing, as well as new, IT systems.

Sanderson noted that while the general economic outlook remained uncertain, it was continuing to experience good trading momentum and had a good level of confidence going into the new financial year.

Unlock the rest of this article with a 14 day trial

Already have an account?
Login here