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Sanderson Group

  • BY: Andrew Hore |
  • POSTED: 02/08/2011 |

Enterprise software supplier Sanderson Group has switched banks from Royal Bank of Scotland to HSBC.

There is a four year facility of 7.4m and a 1m working capital facility. The new facility will cost 400,000 in fees to RBS but it will save 300,000 a year for four years.

Trading is strong in the manufacturing sector but retail is tougher. There is a strong order book.

Products that help customers save electricity are selling well.

Sanderson is still on course to make a profit of 2.4m in the year to September 2011 excluding the 400,000 charge. At 39p a share, up 1.5p, Sanderson is valued at 16.9m. The shares are trading on more than eight times prospective 2011-12 earnings.

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