UK software vendor, Sanderson Electronics, announced positive year-end results following a year of acquisition and growth. Turnover was up six per cent to #61.4 million, pre-tax profit increased by 17 per cent to #6.2 million and earnings per share were up 15 per cent to 10.1 pence.
The company, which sells applications into over 30 vertical markets, particularly targeting medium sized enterprises, has made four acquisitions over the past year, including the purchase of 80 per cent of Fletcher Computer Services, Birmingham supplier of the Fleetplan vehicle management software and the acquisition of Alpha Microsystems (Great Britain) from its Californian parent. It has also acquired two Australian companies, Clegg Driscoll Consultants and software house Wacher.
?A third of our business comes from recurring support and maintenance revenues and another third comes from our existing customer base buying new programs,? said Chris Winn, chief executive oficer of Sanderson. ?Recurring revenues are very important to us. We look to cover about 60 per cent of our overheads with them. It is a good platform.?
Sanderson also added that two-thirds of the group?s revenue came from the UK and the other third from the Pacific. The company is moving slowly in the US. At present it has one office in the US with eight staff and about 20 customers.
The company has been making efforts to boost its brand awareness. About a quarter of its marketing and promotions budget this year went into advertising on the shirts of Premier League football clubs, Southampton and Sheffield Wednesday.
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