Northamber PLC
16 November 2007
16 November 2007
Northamber plc
Interim Management Statement - 1st Quarter to 30th September 2007
At the Annual General Meeting of the company held today, the Chairman, David
Phillips made the following comments regarding the trading of the group for the
first quarter in the year to 30th June 2008.
Sales for the quarter were essentially much in line with those for the
comparative period last year. This lack of growth was but one effect of the
continued weakness of the US Dollar. This is likely to continue to exert a
significant downward pressure on unit pricing with the inevitable result on
sales revenues. The broader issues concerning the future availability of credit
also cannot assist a growth in sales.
Gross profits for the period were also much in line with those of the prior year
and management continues its very tight overhead controls and focus on improved
efficiencies. The unaudited, consolidated result for the first quarter are
marginally better than in the equivalent period last year.
A return to viable commercial opportunity in terms of 'Return on Capital
Employed' for our sector remains elusive. It is hindered by the failure of too
many prime vendors in a price deflation environment to grasp the high levels of
inherent core values distribution brings in enabling the finance and logistics
of their market penetration, reach and success.
As usual we pay particular attention to cash management and we still retain a
healthy cash balance of £9.64m at the period end.
For further information, contact:
Northamber Plc
David Phillips Tel: 020 8296 7000
Charles Stanley Securities
Philip Davies Tel: 0207 149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
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