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

Walking on water, image via Shutterstock

Chris Mellor

IDC stats reveal who's who in the backup appliance bearpit
Carry on Cleo

Gavin Clarke

Infamy, infamy, Amazon and Microsoft have all got it in for me!

Tim Anderson

Also signals stronger cross-platform tools, access to new markets

Features

Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers