Northamber has released its yearly financials, revealing that the distributor has achieved increases in both turnover and margins in the second half of the year.
While the first half results continued the downward trend of previous periods, with an operating loss of £730,000, H2 saw a lower operating loss of £495,000.
“At this time last year and then my statement on the interim results, I reported that we were concentrating on the more profitable aspects of the business. That process is, in any dynamic business an on-going task. Any change in structure or direction takes time and involves costs, and the changes which we have made and those which are on-going are no different,” said Chairman D.M. Philips in his opening comments to the results.
“The reason for my opening comments to these results, was to illustrate that progress has been made,” he explained.
“Against the total operating loss for the year as a whole of £1.225 million compared with £1.155 million for the previous year. Following a decrease in turnover of £14.6 million (18.9 per cent compared with last year) and reduced margins – down from 7.6 per cent to 6.8 per cent the reduction in overhead costs by £1.55 million 22 per cent meant that the operating loss for the year only increased by some £70,000.”
PCR recently spoke to Northamber’s director of strategy, Alex Phillips, at the distributor’s Tech Expo event, where he said he believed some rival disties were eroding the market.
You can read more about the firm’s plans to strengthen its IT business here.