Home » News and Views » Ian Pollard – Sanderson Group – No Major Loss Of Confidence “Yet”

Ian Pollard – Sanderson Group – No Major Loss Of Confidence “Yet”

Sanderson Group SND claims strong trading momentum and further profitable growth in the year to the 30th September so despite only tiny rises in revenue and operating profit, it is increasing its final dividend by 11% as part of its progressive dividend policy. It is however carefully monitoring market conditions and then comes out with the rather strange statement that it has not “yet” detected any major loss of confidence from existing or prospective customers. So a major loss of confidence appears to be expected, the only question being the time of its arrival.

Pets At Home PETS produced strong growth in the veterinary business with income up 16.1% for the half year to the 12th October and omnichannel also put in a strong performance with with revenue up 6.24%. is being held at last years level. Despite that, statutory profit before tax fell by 11.3% and the dividend. The company claims that it is satisfied that it s taking the right decisions. The CEO is departing, as is a non executive director.

Greencore Group GNC has been substantially transformed during the year to the 29th October and it admits that the transformation has not been without its challenges, although it believes that it is now set up for further progress. Group revenue rose by 56% but profit before tax dived by 74.3% and basic earnings per share by 80%. On an adjusted basis profit before tax was up by 35.9% and earnings per share down by 3.8%. The dividend remains unchanged.

Cranswick CNW is increasing its interim dividend by 15.3% for the half year to the 30th September, which also saw record investment of 29m. to increase capacity, capability and efficiency. Revenue rosen23% or 18% on a like for like basis, whilst profit before tax rose by 17.2% and earnings per share  by 20.1%. Net debt rose strongly from 2.9m. to 16.7m.

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