Deferral or withdrawal of retail software projects hit Sanderson Group’s revenues and profits last year.
Management says that revenues will be 52% higher at around £27.5m in the year to September 2008, against £32m forecast, while profits will be £3m compared with a forecast of £3.9m.At least all the £3m has been converted into cash. Net debt has fallen below £11m.
The shares have already fallen sharply in recent months and they fell a further 1.5p to 24.5p each, which values Sanderson at £10.6m.
Manufacturing sector revenues were in line with expectations, as were those from the multi-channel retail sector. Sanderson still gets 50% of its revenues from recurring software and services.
The full year figures will be published in November.
© 2022 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.