Sanderson Group, a software and IT services business reported an increase in its overall order intake, meaning its trading performance will now be slightly ahead of the board's expectations for the year ending September 30th.
Up to the end of August, cumulative orders were nearly 10% ahead of the comparative period of the previous year, and whilst both divisions have increased order intake, growth has been most noticeable in the multi-channel business, the firm said.
The multi-channel division has recently secured two large orders from new customers, each worth approximately £250,000. At the end of July (10 months into the current accounting year), order intake for the multi-channel division exceeded the total order intake for the whole of the previous year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In a statement the firm said: "The UK economic environment remains challenging and whilst Sanderson is affected by these market conditions, continued investment in product development and in sales and marketing has further strengthened the group's competitive market position. The group continues to look carefully at acquisition opportunities in both the manufacturing and multi-channel retail markets."
The share price rose 3.95% to 39.50p by 12:10.
NR
-
Shein shifts IPO focus to Hong KongThe development piles fresh pressure on London’s beleaguered stock market, which many had hoped would be boosted by Shein’s IPO
-
Scientists turn lead into gold – could it wreck the yellow metal's price?Medieval alchemists have been vindicated after scientists turned lead into gold, but the results aren’t going to crash the gold price any time soon
