7th Oct 2013 11:28
LONDON (Alliance News) - Northamber PLC Monday said it swung to a pretax loss in its last financial year as the declining PC market caused revenues to shrink, and as it booked restructuring costs for redundancies that will reduce costs and overheads by about GBP850,000.
The computer hardware and equipment company reported a pretax loss of GBP1.05 million for the year to June 30, compared with a profit of GBP37,000 a year earlier, as revenues fell 23% to GBP77.5 million from GBP100.6 million. It didn't give a figure for the restructuring costs.
It said it had seen an accelerated downturn in demand, stock turns, price and margins for personal computers.
The company said that it had decided to maintain its final dividend at 0.3 pence, making the total dividend for the year of 0.6 pence. It still had net cash of GBP6.13 million at the end of the year, up from GBP4.3 million a year earlier.
Northamber cautioned that the future direction of the company was extremely difficult to forecast, and as a distributor it was dependent on decisions from prime vendors that were out of its control. It said that it had a tightly managed operating model, and it would continue to monitor costs and all available marketing opportunities.
Shares in Northamber were trading down 2.2% at 33.75 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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