Sanderson sees profits on the rise

Sanderson designs, sells and licences software to retailers and manufacturers, and yesterday said pre-tax profits improved to £749,000 in the year to the end of September, up from £506,000 a year earlier. Revenues dipped to £26.4m from £27m, after orders from three retailers were deferred in August and September.

“We’ve got a very good prospect list but it’s a question of when or if they make their decision. It’s mixed,” said chairman Christopher Winn.

The company gained 22 new retail customers and four new manufacturing clients during the year.

Cash generation of £3.43m helped Sanderson drive down net debt to £6.72m. It signed new debt facilities with HSBC in August.

“The board remains cautious in its outlook and sensitive to conditions in the general economy, but the strong order book and improved competitive market position provide a reasonable level of confidence,” added Mr Winn.

Sanderson has its manufacturing headquarters in Sheffield and a retail office in Bradford, together employing around 70 staff.