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RNS
Sanderson Group PLC  -  SND   

2017 Interim Results

Released 07:00 24-May-2017

RNS Number : 0389G
Sanderson Group PLC
24 May 2017
 

 

FOR IMMEDIATE RELEASE                                                                                                          24 MAY 2017

 

 

SANDERSON GROUP PLC

Interim Results for the six months ended 31 March 2017

"Continued organic growth with both revenue and interim dividend up 10%"

 

Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in digital retail technology and enterprise software for businesses operating in the manufacturing, wholesale distribution and logistics sectors, announces its interim results for the six month period ended 31 March 2017.

 

Commenting on the results, Chairman, Christopher Winn, said:

"The Group has made further progress in the first half of the current financial year with revenue and operating profits both increasing during the period. Sanderson has a strong, cash-generative business model and this has enabled the Board to maintain a progressive dividend policy whilst continuing to invest in the further development of the Group's businesses.  I am pleased to report that the Board is declaring an increase of 10% in the interim dividend to 1.1 pence per share (2016: 1.0 pence)."

 

Highlights - Financial 

 

 

 

 

* Operating profit is stated before amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs.
** Adjusted for amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs

 

Highlights - Operational

 

On current trading and prospects, Group Chief Executive, Ian Newcombe, added:

"The Group's well-developed business model is to foster long-term customer relationships which result in a high proportion of sales arising from pre-contracted recurring revenue, complemented by incremental sales to its large, well established and growing customer base.

 

Sanderson continued to achieve a good level of business from both new as well as existing customers during the period.  The Board continues to be cautious in its future planning, but notwithstanding any potential uncertainty which may result from the forthcoming Brexit negotiations, the good order book, healthy balance sheet, strong reputation and track record provide a good level of confidence that the Group will continue to make further progress and deliver trading results in line with market expectations for the current year ending 30 September 2017."

 

 

 

 

Enquiries:                                                                             

Christopher Winn, Chairman                                                                                0333 123 1400

Ian Newcombe, Group Chief Executive

Adrian Frost, Finance Director

                                                                                                       

  Mark Taylor/James White       

020 7496 3000

  N+1 Singer (Nominated Adviser and Broker)

 

 

Paul Vann, Walbrook PR Limited                                                                        0117 985 8989

 

 

 

This announcement contains inside information for the purposes of Article of EU Regulation 596/2014

 

SANDERSON GROUP PLC
Interim Results for the six months ended 31 March 2017

 

 

CHAIRMAN'S STATEMENT

Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in digital retail technology and enterprise software for businesses operating in the manufacturing, wholesale distribution and logistics sectors, announces its interim results for the six month period ended 31 March 2017.

Financial results

The Group has made further progress during the period with revenue increasing by over 10% to £10.90 million (2016: £9.86 million) and operating profit* rising to £1.55 million (2016: £1.47 million).  Gross margin remained high at 82% (2016: 86%), albeit slightly lower than the comparable period last year, reflecting the initial roll-out and installation of network, communications and hardware infrastructure necessary for the deployment of Sanderson solutions at new customer sites.  Recurring revenues from pre-contracted licence and ongoing support services grew to £5.40 million (2016: £5.19 million) representing approximately 50% of total revenue in the period.  Operating expenses increased by approximately £0.55 million as the Group continues to invest in its management, sales and delivery capacity in expectation of further and continued growth in the digital retail market.  The Group order book at the period end was good and stood at a better balanced and more manageable level across the Group's businesses at £2.78 million (2016: £3.20 million).  This compares with £3.02 million at the previous financial year-end on 30 September 2016.

 

The Board remains committed to pursuing a growth strategy based upon a conservative financing policy, the cornerstone of which is a strong balance sheet.  Sanderson has an established history of converting substantially all of its profit to cash and at 31 March 2017, the Group's net cash balance was £4.51 million (2016: £3.39 million).

Dividend

The Board remains committed to maintaining a progressive dividend policy and is pleased to declare a further increase of 10% in the level of the interim dividend to 1.1 pence per share (2016: 1.0 pence).  The dividend will be paid on 18 August 2017 to shareholders on the register at the close of business on 4 August 2017.

Strategy

The strategy of the Board is to achieve sustained growth by continuing to build and to develop the Sanderson business.  Whilst investment is planned across all of the Group's businesses, particular emphasis will continue to be placed on enhancing the range of mobile and ecommerce solutions in Digital Retail and on further strengthening the Group's proposition in its Enterprise Software division, especially in Food and Drink processing.  Sanderson has enjoyed considerable success and has built a strong reputation over a number of years, within the wholesale distribution market where further investment is planned together with complementary products covering the logistics, fulfilment and supply chain market areas.  Mobile solutions continue to be developed to address all of the Group's target markets.

 

In order to augment organic growth, selective acquisition opportunities are under continued consideration and a number of potential opportunities are currently being developed.  Management adopts a careful and measured approach to acquisitions and cautiously considers any risks which might be involved.  The Board remains focused upon further increasing shareholder value by continuing to deliver both organic and acquisitive growth, achieving 'on target' results, increased earnings, maintaining good cash generation and a robust balance sheet.  This enables the Board to maintain progressive dividend returns to shareholders.

Board change

By mutual agreement, Mr Adrian Frost, who has been with the Group since 2000 and has served as Group Finance Director since 2005, will be leaving the Group, later in the year.  The Board would both like to thank Adrian for his contribution to the growth and development of Sanderson, as well as, to wish him all the best for the future.  

Management and staff

Sanderson staff have a high level of experience and specialist expertise in the market sectors which the Group addresses.  On behalf of the Board, I would again like to thank everyone for their hard work, support, dedication and contribution to the ongoing development of the Group.

 

 

 

 

Christopher Winn
Chairman

24 May 2017

 

 

SANDERSON GROUP PLC
Interim Results for the six months ended 31 March 2017

 

 

GROUP CHIEF EXECUTIVE'S BUSINESS REVIEW

The target market for Sanderson products and services primarily comprises small and medium-sized enterprises.  The Group's well-developed business model is to foster long-term customer relationships which result in a high proportion of sales arising from pre-contracted recurring revenue, complemented by incremental sales to its strong, well established and growing customer base.  This steady business stream usually accounts for around 90% of Group revenues.  Sanderson proprietary software is developed in anticipation of technological developments and in conjunction and collaboration with its large customer base.  Sanderson proprietary software is marketed and sold under licence with all sales, marketing, delivery, support and services being carried out by the Group's own expert staff.

 

Group business solutions are developed and marketed in order to provide customers with 'value for money' IT systems, designed to offer timely and tangible business benefits.  These solutions typically enable customers to increase revenue whilst also achieving additional efficiencies by making and maintaining cost savings, both often achieved within twelve months of implementation.  The Group continues to both invest in the development of its software products and services, as well as in increasing its sales and marketing capacity and capability.  Particular emphasis has been placed on the Sanderson businesses specialising in the UK food and drink processing, wholesale distribution sectors and especially, in the market for digital retail solutions with the development of mobile and ecommerce solutions.  These solutions enable retailers to capitalise on the significant growth arising from the widespread adoption of smartphones and tablets and to exploit 'mobile' as a sales channel that is fully integrated with existing business systems.  Reflecting both prior and continuing investment in the Group's sales and marketing function, following a record half year in 2016, when ten new customers generated orders to the value of £2.08 million, Sanderson continued to achieve a high level of sales order intake during the period of £5.81 million (2016: £6.02 million; 2015: £4.94 million; 2014: £4.24 million) and eight new customers contributed orders to the value of £0.95 million in the period.

Review of Digital Retail division

Sanderson provides comprehensive IT solutions to businesses operating in the ecommerce, mobile commerce and retail sectors of the UK.  Mobile enablement and deployment continues to be a key business driver in this market sector with increasing levels of business activity.

Revenue increased by 20% to £3.54 million (2016: £2.95 million), whilst operating profits* of £0.34 million (2016: £0.33 million) reflect the planned further investment in management, sales and delivery capacity in anticipation of continued growth within the digital retail market.  Sales order intake grew by almost 50% compared with the comparable period last year.  Demand from existing customers for the Group's latest release of its ecommerce solution continued to grow with sales orders gained from a number of customers including Axminster Tool Centre Limited and Joe Browns.  The mobile solutions business continue to benefit from increased demand for additional roll-out and implementation of its in-store sales solutions for its existing customers, such as Superdry, in a number of their UK and European retail outlets.  Additional in-store mobile solutions were installed at Lifestyle Sports in Ireland.  The fully integrated 'connected retail' solution enables retail customers to order anywhere, on any device, using any payment method and to have their order delivered wherever they choose.

The period end order book stood at £0.84 million (2016: £0.78 million) and with a number of good sales prospects, active pilot schemes and strengthening partnerships with existing customers, the Digital Retail business is well-positioned to take advantage of continued growth in this market.

Review of Enterprise Software division

The Enterprise Software division of Sanderson comprises two market-focused businesses which are focused upon the manufacturing sector and the wholesale distribution and logistics sectors.  Divisional revenue and operating profit* increased to £7.36 million (2016: £6.92 million) and £1.21 million (2016: £1.15 million) respectively.  The Enterprise division now has a good order book which, is better balanced over the different businesses and at period end, was valued at £1.93 million (2016: £2.42 million).  The priority remains on delivering a significant proportion of these orders before the end of the current financial year.

Enterprise - Manufacturing

Businesses in the engineering, plastics, aerospace, electronics, print ('general manufacturing') and food and drink processing sectors represent the main areas of specialisation for Sanderson in manufacturing markets.  Sanderson continues to invest in product development and in its sales and marketing capability.  Traceability of products and ingredients through the food manufacturing and supply chain and the assurance of product compliance with the latest regulatory standards continue to be strong features of the Group's solution; these are key requirements for businesses operating in the food and drink processing industry. 

The Manufacturing business gained four new customers during the period (2016: five new customers), including Tomlinsons Dairies Limited, at an average order value of £143,000.  Revenue for the period was £3.15 million (2016: £3.25 million).  Recurring revenue represents 59% of total divisional revenue and covers over three-quarters of divisional overheads.

Enterprise - Wholesale Distribution and Logistics

The Group has expanded the application of Sanderson solutions for the wholesale distribution, cash and carry and fulfilment sectors into the specialist warehousing, logistics and supply chain market sectors.  Four new customers were gained during the period, including H B Clark & Co and Andertons Music Company.  This compares with five new customers in the comparative period of 2016.  Large orders from existing customers included Tottenham Hotspur and Clipper Logistics plc.  Revenue increased by 15% to £4.21 million (2016: £3.66 million).

Outlook

We continue to be measured in our business approach, sensitive to market conditions and endeavour to monitor the general economic climate and environment.  The general economic environment still seems good, but there does seem to be a slightly more considered approach from some customers.  Sales cycles often remain protracted, particularly where big projects are being considered especially by larger customers.  The Group continued to achieve a good level of business from both new as well as existing customers during the period.  The Board continues to be cautious in its future planning, but notwithstanding any potential uncertainty which may result from the forthcoming Brexit negotiations, the good order book, healthy balance sheet, strong reputation and track record provide a good level of confidence that the Group will continue to make further progress and deliver trading results in line with market expectations for the current year ending 30 September 2017.

 

 

 

 

Ian Newcombe

Group Chief Executive

24 May 2017

 

 

 

* Operating profit is stated before amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs.

 

 

 

 

 

CONSOLIDATED INCOME STATEMENT

 

 

 

 

Note

Unaudited

six months to 31/03/17

£000

Unaudited

six months to 31/03/16

£000

Audited

year to

30/09/16

£000

 

 

 

 

 

Revenue

2

10,900

9,860

21,320

Cost of sales

 

(1,912)

(1,359)

(3,399)

Gross profit

 

8,988

8,501

17,921

 

 

 

 

 

Other operating expenses

 

(7,877)

(7,327)

(14,895)

Results from operating activities

2

1,111

1,174

3,026

 

 

 

 

 

Results from operating activities before adjustments in respect of the following:

 

2

 

1,552

 

1,474

 

3,686

Amortisation of acquisition-related intangibles

 

(246)

(258)

(513)

Acquisition related costs

 

(175)

-

(62)

Share-based payment charges

 

(20)

(42)

(85)

Results from operating activities
 

2

1,111

1,174

3,026

Net finance expense

 

(91)

(84)

(153)

Acquisition-related finance expense

 

(6)

(61)

(92)

Profit before taxation

 

1,014

1,029

2,781

Taxation

 

(141)

(91)

(354)

Profit for the period attributable to equity holders of the parent

 

 

873

 

938

 

2,427

 

Earnings per share

From profit attributable to the owners of the parent undertaking during the period

 

 

 

 

Basic earnings per share

3

1.6p

1.7p

4.4p

Diluted earnings per share

3

1.5p

1.7p

4.3p

 

 

 

 

 

 

 

 

 

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

 

 

 

Unaudited

six months to 31/03/17

£000

Unaudited

six months to 31/03/16

£000

Audited

year to

30/09/16

£000

Profit for the period

 

873

938

2,427

 

Other comprehensive income/(expense)

 

 

 

 

Items that will not subsequently be reclassified to profit or loss

 

 

 

 

Remeasurement of net defined benefit liability

 

-

-

(3,678)

Deferred taxation effect of defined benefit pension plan items

 

-

-

568

 

 

-

-

(3,110)

 

 

 

 

 

Items that will subsequently be reclassified to profit or loss

 

 

 

 

Change in the fair value of available for sale financial asset

 

(4)

2

19

Foreign exchange translation differences

 

(15)

(63)

31

 

 

 

 

 

Total comprehensive income/(expense) for the period

 

854

877

(633)

           
 

 

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

 

 

 

Unaudited

as at
31/03/17

£000

Unaudited

as at
31/03/16

£000

Audited

as at
30/09/16

£000

Non-current assets

 

 

 

 

Intangible assets

 

30,316

30,502

30,473

Property, plant & equipment

 

543

528

524

Deferred tax asset

 

1,645

1,311

1,755

Investments

 

150

-

-

 

 

32,654

32,341

32,752

Current assets

 

 

 

 

Inventories

 

30

98

20

Trade and other receivables

 

5,496

5,534

7,032

Current tax

 

-

-

-

Other short-term financial assets

 

205

192

209

Cash and cash equivalents

 

4,509

3,386

4,344

 

 

10,240

9,210

11,605

Current liabilities

 

 

 

 

Trade and other payables

 

(3,361)

(3,871)

(4,570)

Deferred consideration

 

(102)

(201)

(155)

Current tax liabilities

 

(374)

(83)

(337)

Deferred income

 

(5,044)

(4,827)

(5,270)

 

 

(8,881)

(8,982)

(10,332)

 

 

 

 

 

Net current assets

 

1,359

228

1,273

Total assets less current liabilities

 

34,013

32,569

34,025

 

 

 

 

 

Non-current liabilities

 

 

 

 

Deferred tax liabilities

 

(749)

(936)

(824)

Deferred consideration

 

(110)

(160)

(115)

Pension and other employee obligations

 

(8,066)

(4,539)

(8,155)

 

 

(8,925)

(5,635)

(9,094)

 

 

 

 

 

Net assets

 

25,088

26,934

24,931

 

 

 

 

 

Equity

 

 

 

 

Called-up share capital

 

5,500

5,480

5,485

Share premium

 

9,094

9,048

9,056

Available for sale reserve

 

75

62

79

Foreign exchange reserve

 

(71)

(150)

(56)

Retained earnings

 

10,490

12,494

10,367

Total equity

 

25,088

26,934

24,931

 

 

 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

 

For the six month period to 31 March 2017

 

 

Share capital

£000

Share premium

£000

 

Other reserves

£000

 

Retained earnings

£000

Total

equity

 £000

 

At 1 October 2016

5,485

9,056

23

10,367

24,931

Exercise of share options

15

38

-

-

53

Dividend paid

-

-

-

(770)

(770)

Share-based payment charge

-

-

-

20

20

Transactions with owners

15

38

-

(750)

(697)

Profit for the period

-

-

-

873

Other comprehensive income:

 

 

 

 

 

Foreign exchange translation difference

-

-

(15)

-

(15)

Change in market value of short-term financial asset

-

-

(4)

-

(4)

Total comprehensive expense

-

-

(19)

873

854

 

 

 

 

 

 

At 31 March 2017

5,500

9,094

4

10,490

25,088

 

 

 

For the six month period to 31 March 2016

 

 

Share capital

£000

Share premium

£000

 

Other

reserves

£000

 

Retained

earnings

£000

Total

equity

 £000

 

At 1 October 2015

5,460

9,023

(27)

12,171

26,627

Exercise of share options

20

25

-

-

45

Dividend paid

-

-

-

(657)

(657)

Share-based payment charge

-

-

-

42

42

Transactions with owners

20

25

-

(615)

(570)

Profit for the period

-

-

-

938

Other comprehensive income:

 

 

 

 

 

Foreign exchange translation difference

-

-

(63)

-

(63)

Change in market value of short-term financial asset

-

-

2

-

2

Total comprehensive expense

-

-

(61)

938

877

 

 

 

 

 

 

At 31 March 2016

5,480

9,048

(88)

12,494

26,934

 

 

 

 

 

 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (continued)

 

 

For the year ended 30 September 2016

 

 

Share capital

£000

Share premium

£000

 

Other

reserves

£000

 

Retained earnings

£000

Total

equity

 £000

 

At 1 October 2015

5,460

9,023

(27)

12,171

26,627

Exercise of share options

25

33

-

-

58

Dividend paid

-

-

-

(1,206)

(1,206)

Share-based payment charge

-

-

-

85

85

Transactions with owners

25

33

-

(1,121)

(1,063)

Profit for the year

-

-

-

2,427

2,427

Other comprehensive income:

 

 

 

 

 

Remeasurement of net defined benefit liability

 

-

 

-

 

-

 

(3,678)

 

(3,678)

Deferred tax on above

-

-

-

568

568

Foreign exchange translation differences

-

-

31

-

31

Change in fair value of available for sale financial asset

-

-

19

-

19

Total comprehensive income

-

-

50

(683)

(633)

 

 

 

 

 

 

At 30 September 2016

5,485

9,056

23

10,367

24,931

 

 

 

 

 

 

 

 

 

CONSOLIDATED STATEMENT OF CASH FLOWS

 

 

Note

Unaudited

six months to 31/03/17

£000

Unaudited

six months to 31/03/16

£000

Audited

year to

30/09/16

£000

 

 

 

 

 

Profit for the period

 

873

938

2,427

Adjustments for:

 

 

 

 

Depreciation and amortisation

 

669

596

1,225

Share-based payment charges

 

20

42

85

Net finance expense

 

97

145

245

Income tax expense

 

141

91

354

Operating cash flow from continuing operations before working capital movements

 

1,800

1,812

4,336

Movement in working capital

 

(5)

(179)

(362)

Cash generated by continuing operations

 

1,795

1,633

3,974

Income tax paid

 

-

-

-

Payments to defined benefit pension scheme

 

(180)

(180)

(330)

Net cash from operating activities

 

1,615

1,453

3,644

 

 

 

 

 

Investing activities

 

 

 

 

Purchases of property, plant & equipment

 

(134)

(127)

(254)

Investment in unlisted company

 

(150)

-

-

Deferred consideration paid

 

(62)

(1,538)

(1,660)

Dividend received

 

-

-

15

Bank interest received

 

-

6

12

Expenditure on product development

 

(387)

(403)

(872)

Net cash received used in investing activities

 

(733)

(2,062)

(2,759)

 

 

 

 

 

Financing activities

 

 

 

 

Equity dividends paid

4

(770)

(657)

(1,206)

Issue of shares, net of costs

 

53

45

58

Settlement of share options

 

-

-

-

Net cash used in financing activities

 

(717)

(612)

(1,148)

 

 

 

 

 

Increase/(decrease)/in cash and cash equivalents

 

165

(1,221)

(263)

Cash and cash equivalents at start of the period

 

4,344

4,607

4,607

Cash and cash equivalents at end of the period

 

4,509

3,386

4,344

 

 

NOTES TO THE INTERIM RESULTS

 

 

1.   Basis of preparation

The Group's interim results for the six month period ended 31 March 2017 are prepared in accordance with the Group's accounting policies which are based on the recognition and measurement principles of International Financial Reporting Standards ('IFRS') as adopted by the EU and effective, or expected to be adopted and effective, at 30 September 2017.  As permitted, this interim report has been prepared in accordance with the AIM rules and not in accordance with IAS34 'Interim financial reporting'.

These interim results do not constitute full statutory accounts within the meaning of section 434(5) of the Companies Act 2006 and are unaudited. The unaudited interim financial statements were approved by the Board of Directors on 23 May 2017.

The consolidated financial statements are prepared under the historical cost convention as modified to include the revaluation of financial instruments. The statutory accounts for the year ended 30 September 2016, which were prepared under IFRS, have been filed with the Registrar of Companies. These statutory accounts carried an unqualified Auditors' Report and did not contain a statement under either Section 498(2) or (3) of the Companies Act 2006.

 

2.      Segmental reporting

The Group is managed as two separate divisions: Enterprise Software and Digital Retail.  Substantially all revenue is generated within the UK. 

 

 

 

Enterprise

 

Digital Retail

 

Total

 

Six months 31/03/17
£000

 

Six months 31/03/16

£000
 

Year Ended

30/09/16
£000

 

 

Six months 31/03/17

£000
 

Six months 31/03/16

£000
 

Year

Ended 30/09/16

£000
 

 

Six months 31/03/17

£000
 

Six months 31/03/16

£000
 

Year Ended 30/09/16

£000
 

Revenue

7,363

6,915

14,922

 

3,537

2,945

6,398

 

10,900

9,860

21,320

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit before adjustments*

1,208

1,146

2,801

 

344

328

885

 

1,552

1,474

3,686

Amortisation

(113)

(125)

(247)

 

(133)

(133)

(266)

 

(246)

(258)

(513)

Share-based payment

(7)

(16)

(32)

 

(13)

(26)

(53)

 

(20)

(42)

(85)

Acquisition- related costs

(175)

 -

(62)

 

-

-

-

 

(175)

-

(62)

Operating profit

913

1,005

2,460

 

198

169

566

 

1,111

1,174

3,026

Net finance expense

 

 

 

 

 

 

 

 

(97)

(145)

(245)

Profit before tax;
continuing operations

 

 

 

 

 

 

1,014

1,029

2,781

                                 

 

* Adjustments to operating profit in respect of amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs.

 

 

3.    Earnings per share

 

 

 

 

 

 

 

Unaudited
six months to 31/03/17

£000

Unaudited
six months to 31/03/16

£000

Audited
year to

30/09/16

£000

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

Result for the period from continuing operations

873

938

2,427

 

 

Amortisation of acquisition-related intangibles

246

258

513

 

 

Share-based payment charges

20

42

85

 

 

Acquisition-related costs

175

-

62

 

 

Adjusted profit for the period from continuing operations

1,314

 

             

 

 

 

Number of shares:

Unaudited
six months to 31/03/17

No.

Unaudited
six months to 31/03/16

No.

Audited
year to

30/09/16

No.

 

 

 

 

In issue at the start of the year

54,851,985

54,600,550

54,600,550

Effect of shares issued in the period

102,058

81,658

173,846

Weighted average number of shares at period end

54,954,043

54,682,208

54,774,396

Effect of share options

2,375,114

1,626,719

1,520,615

Weighted average number of shares (diluted)

57,329,157

 

 

Earnings per share:

Unaudited
six months to 31/03/17

(pence)

Unaudited
six months to 31/03/16

(pence)

Audited
year to

30/09/16

(pence)

 

Total attributable to equity holders of the parent undertaking:

 

 

 

    Basic

1.6

1.7

4.4

    Diluted

1.5

1.7

4.3

 

Earnings per share, adjusted, from continuing operations:

 

 

 

    Basic

2.4

2.3

5.6

    Diluted

2.3

2.2

5.5

 

 

 

 

4.    Equity dividends paid

 

 

Unaudited
Six months to 31/03/17

£000

Unaudited
Six months to 31/03/16

£000

Audited
Year to

30/09/16

£000

Interim dividend

 

-

-

549

Final dividend

 

770

657

657

Total dividend paid in period

 

770

657

1,206

             

 

 

 

5.    Interim report

The Group's interim report will be sent to the Company's shareholders.  This report will also be available from the Company's registered office and on the Company's website www.sanderson.com.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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2017 Interim Results - RNS