23 January 2012 – sale of business and trading update
The group has announced that it has sold its Sanderson RBS Limited business which specialises in the sale of electronic point of sale solutions to high street retailers for £11.5m in cash. The disposal of the business will enable the group to repay all its debt and leave it with net cash of some £4m. This will be used to expand the business in its core markets of multi-channel retail and manufacturing solutions through development of existing products as well as potentially by acquisition. Despite the difficult current trading environment, Sanderson has continued to trade welland order intake in the first quarter of its financial year to 31 December on the remaining businesses is almost 10% ahead of the previous year. We maintain our recommendation of BUY.