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

Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella
Stranded_ships

Chris Mellor

Thousands of layoffs announced as spinning rust enters its death spiral

Features

STRASBOURG, JUNE 29, 2016: The seat of the European Parliament. by Marco Aprile for shutterstock. EDITORIAL USE ONLY
Plan b, image via Shutterstock
EU workers, new markets: post-Brexit pressure on May & Co
Tough question, pic via Shutterstock
Honest mistake with your licensing? Audit police look at it on a 'case by case basis'