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By | Kelly Fiveash 3rd March 2008 14:18

Northamber sees slight H1 upswing

'Cautiously confident'

IT equipment distributor Northamber PLC reported a first half rise in pre-tax profit and revenue helped by a moderate trading recovery and an overheads cutback.

The Surrey-based firm saw pre-tax profit for the six months ended 31 December 2007 of £453,000 compared to £369,000 for the same period a year earlier.

First half revenue rose a modest £1.7m to £97.3m compared to Northamber's H1 in 2006.

The board recommended an interim dividend of 1.2 pence per share, unchanged from last year. Earnings per share for the period were 0.96 pence per share, up from 0.78 pence.

In October last year, the distie was forced to cut its dividend after falling sales and margins hit profits. The company complained that tough trading combined with pressure on prices had put a dent in profits.

Northamber chairman D M Phillips offered his outlook for the year in a trading statement: "Subject to both the state of the sector and the overdue need for our major vendors to accept significant changes to terms are both overdue and necessary, your board remains cautiously confident in the outcome for the remainder of the trading year." ®

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