The Channel logo

News

By | Joe Fay 7th September 2010 10:37

Northamber musters 'cautious optimism'

Is that a light at the end of...

Veteran distributor Northamber allowed itself a glimmer of optimism today as it unveiled its preliminary full year results.

Chairman David Phillips said in his statement: "I am pleased to announce improved profitability for the year as a whole and importantly the return to profit at the operating level."

He added that "whilst underlying conditions are largely unchanged I can report that the efficiency improvements to assist profitability came through in our final quarter".

Revenues were £128.48m, down 7.8 per cent on the year. Pre-tax profits were £258,000, well up on the previous year's £47,000.

The firm said bad debt levels of just £38,000 demonstrated its "cautious trade credit strategy within the varying levels of ongoing certainty."

However, investment income, at £142,000, was half that of previous years, as Northamber suffered from the current low interest rates.

The firm said that "early indications are that the improved trends seen in the last quarter of 2009/10 may be continuing into the current year". It was too early to say whether this was a blip or trend, it added, but given its strong financial position, it felt it could "look forward with a degree of optimistic caution to the year ahead". ®

comment icon Read 2 comments on this article alert Send corrections

Opinion

Lightning

Jack Clark

Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
Microsoft CEO Satya Nadella
ARA_LIbertad

Chris Mellor

Elliott Management sinks its teeth into retiring godhead

Features

Sinofsky's hybrid strategy looks dafter than ever
Failure to crack next-gen semiconductors threatens to set back humanity
SMEs get lip service - what they need is dinner at the Club
SAP Match Insights
Vorsprung durch grossendatatechnik, as we like to say in Germany