20th Sep 2018 11:51
LONDON (Alliance News) - Northamber PLC said Thursday that its loss for the financial year halved as revenue increased and costs dipped.
For the year to June 30, the IT equipment distributor posted a pretax loss of GBP489,000 compared to GBP999,000 a year ago.
This was achieved on the back of a slight increase in revenue by 1.5% to GBP58.1 million from GBP57.3 million.
The company also reduced its total overhead costs as it made "further savings" in distribution and in administration. Distribution costs totaled GBP2.9 million, up from GBP3.0 million and administration costs fell to GBP2.3 million from GBP2.4 million.
The company kept its final dividend at 0.1 pence per share.
Looking ahead, Northamber said that the uncertainty related to Brexit renders the company "unable to make any realistic assessment of the next year or so".
"We shall, as we always have, work as hard as possible to maximise our opportunities and deliver the best results that we can for our shareholders," Chairman David Phillips said.
Northamber shares were untraded at 29 pence each.
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