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  • BY: Andrew Hore |
  • POSTED: 07/12/2007 |

Enterprise software provider Sanderson reported flat profits for the year to September 2007 but the acquisition of retail software supplier Retail Business Solutions will be significantly earnings enhancing in 2007-08. 

Sanderson used to be dependent on the manufacturing sector but multi-channel retail was three-fifths of last year’s revenues and it will be more like three-quarters next year when RBS makes a full contribution. That market is growing at around 6% a year. The enlarged group has more than 600 retail customers.

The RBS is the first acquisition of any size that Sanderson has made since floating on Aim.

Stripping out share-based payments, amortisation and disposal gains, Sanderson increased its profits from £3m to £3.14m last year. Turnover was £18.2m and with the RBS revenues this should rise to more than £30m this year.

At 49.5p, the full year dividend of 2.7p a share means that the shares yield 5.5%.

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