Sanderson Group hires new CEO after ‘solid’ interim results

Ian Newcombe, newly appointed Chief Executive of Sanderson Group plc
Ian Newcombe, newly appointed Chief Executive of Sanderson Group plc
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SOFTWARE firm Sanderson Group has hired a new chief executive and may consider further acquisitions after securing a rise in half year revenue and operating profit.

The company, which is a software and IT services business specialising in multi-channel retail and manufacturing, also hopes to increase the size of its 50-strong team based in Sheffield.

In the half year ended March 31, Sanderson’s revenue grew to £9.09m, from £7.94m in the same period last year. Operating profit rose to £1.37m from £1.21m in the comparable period in 2014. The company’s chairman, Chris Winn, also revealed that Ian Newcombe, who has played a major role in developing the firm’s multi-channel business, has been promoted to the new role of group chief executive.

Mr Winn added that particular emphasis will be placed on developing the range of services for mobile and ecommerce businesses, for the food and drink processing sector, and for entry level systems in the manufacturing division.

He added: “To augment organic growth, selective acquisition opportunities will continue to be considered. However, in the current year, management intends to focus on delivering another set of ‘on target’ trading results.”

The company said that the economic environment continues to show signs of improvement, although sales cycles remain protracted. Charles Stanley Securities described the results as a “solid set of interim numbers”.