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November 23, 1988


By CBR Staff Writer

Unlisted Securities Market-quoted Pick systems specialist Sanderson Electronics Plc yesterday posted a very healthy set of maiden results, exceeding by 20% its pre-tax profit forecast of UKP1.45 made at the time of the flotation last May, and 360% up on last year’s figure – see Company Results, page three; the group distributes CIE Systems computers under its own name and has enjoyed an annual profit growth of at least 50% over the last five years; managing director Paul Thompson said turnover in hardware maintenance, software licence fees and support contracts had more than doubled during the year, and was expected to increase significantly as the company’s user base continues to grow; the group has a net cash balance of UKP700,000 and says it is well placed to finance growth whether organic or by acquisition.

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