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Profit warning from Northamber

Distributor points finger at market conditions

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Northamber issued a profits warning today, blaming falling prices and over-supply in the distribution sector. The Chessington-based distributor said it expected financial results for the year ending 30 June to be "significantly below current market expectations." "The recent market trend of falling unit prices, driven by over-supply, has adversely impacted our overall trading performance. "This change has unfortunately affected us in what has traditionally been the most profitable period of our second half-year," said a company statement issued this morning. In December, Northamber turned in interim profits up 10.8 per cent to £4.72 million for the six months ended 31 December, while sales fell. Chairman David Phillips told The Register this was due to his company moving to a higher margin model. Northamber said the group remained profitable and it had been strengthening its position in the market. ®

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