Sanderson builds £5m pile of cash

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Sheffield software group Sanderson has seen revenue, operating profit and orders rise in the half year to April new figures show.

The firm, which specialises in multi-channel retail and manufacturing markets in the UK and Ireland, saw revenue rise to £7.94m, compared to £6,37m last year and operating profit rise to £1.22m, from £988,000.

The company continues to convert almost of all prfoit into cash and at the end of March had £5m in the bank. Seven new multi-channel retail customers were secured during period, including WCF Home Shopping, Astley Clarke and Cloggs; five new customers were added by manufacturing including Prima Foods UK and Rathfinny Estate.

Chairman Chris Winn said: “Whilst the group will continue to invest across all of its businesses, particular emphasis will be placed on developing products for mobile and ecommerce businesses, as well as for the food and drink processing sector. Acquisitions will be considered. However, in the current year, management intends to focus ‘on target’ results and on making the acquisitions of Priam and One iota, successful.”