The Channel logo


By | Joe Fay 27th April 2012 07:00

Northamber lay-offs put it in the red

Back in profit at operating level, though

Northamber headed itself off from reporting a profit for the third quarter after it trimmed its workforce in the face of declining sales of volume products.

The veteran distie said in a trading statement yesterday it enjoyed an "encouraging" quarter but in typical Eeyore-ish style said it is too early to determine if "green shoots are assured".

The firm returned to operating profit in its third fiscal quarter, as it continued its effort to shift away from volume products and vendors. It said it had reduced its rate of revenue erosion, and third quarter revenues were only £609,000 lower than the previous quarter.

But the erosion of volume sales prompted it to cut logistics staff numbers, which came at a cost.

"But for the redundancy costs, the Company would have been profitable for the quarter at the pre-tax level," it said in the statement.

Overall, it said, "We remain cautious for the remainder of the current financial year albeit perhaps with a little more optimism than we observed several months ago." ®

alert Send corrections


George Osborne, photo: HM Treasury
shutterstock_183801788_container ship

Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.