Veteran disty Northamber highlighted a "harsh" and unsettled market today as it unveiled a fall in revenues and a reduced loss for the first six months of its financial year.
Revenues came in at £63.8m, down 6 per cent on the year. The firm made an operating loss of £83,000, which represented a major improvement on last year's £587,000 operating loss. Pre-tax losses were £41,000, compared to a £304,000 loss a year ago.
There was no glossing over the commercial environment Northamber faces, with the firm stating that "uncertainty within the corporate sector has not yet shown signs of becoming more settled."
It said that to "combat the harsh trading environment, we have both reviewed our vendor portfolio and made further reductions in overheads."
It clearly doesn't expect a turnaround any time soon, telling shareholders, "Whilst not wishing to be pessimistic, we see little evidence to the contrary. We will continue to carefully monitor our performance on a daily basis. We believe our continued strategy of managing cost best matches the current uncertainties." ®