27 November 2012 – final results
Excellent results have been reported by software and IT group Sanderson for the year to 30 September with adjusted pre-tax profits on continuing operations increasing to £1.5m (2011: £0.4m) for earnings per share on the same basis of 3.0p (2011: 1.1p). These are the first annual results to be reported since the sale of Sanderson RBS in January – the disposal has led to the group having net cash at the year end of over £4.0m (2011: net debt of £6.72m) and this fed through to a much lower finance charge for the year. The dividend for the year was raised by 60% to 1.2p (2011: 0.75p) as a sign of confidence in the future. Further progress is expected in the current financial year with pre-tax profits forecast to increase to £2.1m for earnings per share of 4.1p. With the strength of the balance sheet we rate the shares a BUY.