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Flat sales, Web business grows

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Action, the catalogue and online computer reseller, is crowing about a return to profit.

For the six months to 28 February the company made pre-tax profits of £384,000 on sales of £137 million. But sales haven't grown - its turnover was £137 million for the six months to 29 February 2000, and it was recording a pre-tax profit of £443,000 back then.

Unfortunately, come the end of that fiscal year, 31 August 2000, pre-tax losses were £6.65 million on sales of £276 million.

But Action's web sales have increased by 70 per cent over the six months to 28 February - £27.8 million up from £16.4 million a year earlier.

The company said that against the present market background revenue growth was unlikely to return to previous levels, so it has been concentrating expanding profit margins. It says overdue debts are now at record (i.e. low) benchmark levels, and inventories are down to six days of supply.

Action has also boosted the balance sheet by striking an agreement to sell its Spanish subsidiary to German business Bechtle for £5 million. ®

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