The Channel logo

News

By | Joe Fay 24th September 2008 10:59

Northamber balks at forecasts amidst market uncertainty

Boosts profits despite sales slip

Northamber illustrated the fragility of the tech market today with results that showed a slip in sales, increasing credit insurance costs and a refusal to give guidance on its future performance.

The distributor managed to boost its profits for the year to June 30, which were up 5.9 per cent to £627,000, despite sales slipping 1.4 per cent to £179.7m.

Northamber blamed slippage squarely on “the downturn in the general economic climate” after three quarters of improvement.

Apart from the direct impact of cooling revenues, Northamber said, “administrative costs rose marginally due to increased insurance costs to provide for customers' defaults in the deteriorating economic environment”.

So it was perhaps unsurprising that chairman David Phillips opted not to round off his report with a forecast of the firm’s prospects.

“Within an area of largely discretionary expenditure and a lacklustre start to the year, it is simply not possible to provide any guidance beyond our determination to continue to manage the balance sheet tightly,” he said. ®

alert Send corrections

Opinion

WWI French tank picture via Shutterstock
Vinod_Khosla

Chris Mellor

A VC with startup agenda slams established suppliers. Surprised? Neither were we
ZenPad_RealRacing
Boy writes a letter to Santa. Pic via Shutterstock

Kat Hall

Cornwall's win over BT should be a cautionary relationship tale

Features

Eclipse image via Shutterstock
The Azure Portal: Microsoft is betting on cloud for its future business
container_ship_hamburg_shutterstock_648
Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire