Northamber weathers storm
Profits down - but still a profit
Northamber, the Pan-UK IT distie, this week reported a decline in profit before tax (PBT) of #163;5.5m on sales of £299m, for the year to June 30, 2001 (2000: PBT £7.5m on sales of £284m)
But the company says the fact that it "continued to trade profitably in the second half which proves its resilience in adverse conditions". Performance compared with peers was strong too, it claims.
And it expresses confidence in its performance for the current financial year. Sales are running at 84 per cent of levels of this time last year, but the company has implemented various cost efficiencies, including staff reductions and some new premises, which has brought expense into line with profits.
Northamber also points to its financial prudence in keeping a tight rein on stock levels, while pointing out that the downside in this policy -- lower volumes means less co-op marketing rebates from suppliers. ®