The Channel logo

News

By | John Oates 6th October 2006 08:48

Northamber watches profit and revs fall

Ouch...

Distie Northamber has had to cut its dividend after falling sales and margins hit profits.

The company complained that tough trading combined with pressure on prices pushed profits down to £430,000 from £2.61m last year. Revenue was down too, despite higher volume. Northamber sold £204.4m worth of kit compared to £236.3m in 2005. Margins fell half a per cent in the period.

Chairman D M Phillips said: "It is widely understood and reported, that July, August and September trading was generally poor across our sector."

Stock turns increased to 21 times from 16 times last year.

Northamber shares fell over seven per cent on the news. The company will pay a final dividend of 2.1p per share, down from 6 pence last year.

The company said trading had been harder than expected. It blamed a general downturn in the distribution business.

More details on Northamber's website .

Comparative results from last year have been restated because Northamber has now adoped International Financial Reporting Standards.®

alert Send corrections

Opinion

Memristor_wafer

Chris Mellor

Execution warrant close to being signed for Fink's folly
Woman cuddles 'sly-looking' Fennec fox. Photo by Shutterstock
Cartoon of employee asking wky boss makes hium wear suspenders (while pincer through open trapdoor remains poised above his head) illustration by Cartoon resource for Shutterstock

Frank Jennings

It's not like my boss painstakingly nurtured the contacts, right?

Features

Girl and computer, photo via Shutterstock
Middle-class terror of engineering also part of problem
Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world