Interim Results

Northamber PLC
13 February 2002


                                 Northamber Plc
      Unaudited Interim Results for the six months ended 31 December 2001

Results

Shareholders will be aware that much of the six months period to December 2001
was a period beset by exceptional and difficult trading circumstances, affecting
both our major vendors and ourselves. This was particularly the case within the
higher volume product ranges, which additionally suffered increased levels of
price erosion.

In adverse trading conditions, it is our long established practise to avoid
valueless revenue or uncommercial risk. Given such a background, it is
unsurprising that our sales declined to £118.4m, a fall of 21.3% when compared
with the £150.5 million reported a year ago.

In keeping with our trading statement of 8th November 2001, I am able to report
that the company remained in-profit and produced a pre-tax profit of £80,000.

Net assets per share of 104.1p (105.8p as at 30th June 2001) are after charging
the 2.2p of the interim dividend and show the benefit of those steps previously
announced.  These have proven effective in reducing our future costs and
minimising damage.

The company continued to generate cash even after both the re-purchase of shares
and the repayment of the mortgage loan on the Arbroath investment property.  As
at 31st December the company was debt free and had cash balances of £4.5
million.

Trading

Since the trading updates to members on 24th September and 8th November 2001,
there were significant further reductions in demand reflected across the sector.
It has been stated elsewhere as having been a 'severe trading environment'.

Towards the end of the half year, a realistic view of the associated risks of
higher stock levels determined that we would again not pursue volume related
rebates from our vendors to support short term profit opportunities.  That also
having been the reported decision taken at the full year and which the
subsequent sales downturn proved correct.  As also reported at the full year, we
had already perceived a downturn in demand and initiated appropriate measures to
preserve profitability. The unexpected events since, resulted in those measures
avoiding loss.

The previously advised cost reductions and re-alignment of our trading model
were completed. Three locations were closed and consolidated and staff numbers
were reduced by 17%.  Although the timing of the cost savings gave only a
minimal contribution to this half-year, the benefit would be approximately
£1.5million in a full year.  However, we have also invested in our newer
facilities for the longer term and not all these savings will fall to the bottom
line.

Dividend

The board has reviewed the strength of both our balance sheet and net cash
position.  With our confidence in the strength of the business, it was decided
to maintain the dividend at 2.2p (net).  This amount will be payable on 3rd May
2002 to members on the register as at 19th April 2002.

Outlook

Until some significant change occurs in the perceived value of the volume
product offerings, existing levels of product maturity are likely to continue to
satisfy most users.  The outcome could leave the upgrade and replacement segment
sales restricted by historic expectations.  In our view, the length and extent
of this current downturn will necessarily speed both the rate of consolidation
and changes within the sector's business model.

The strengths within our own evolving business model, debt-free balance sheet
and significant positive cash balances are all available to provide the
necessary impetus when opportunities arise and sales growth returns.


David Phillips
Chairman


13th February 2002


Enquiries:          David Phillips
                    Chairman
                    Northamber plc
                    020 8974 2525

                    Robert Corden
                    Charles Stanley & Company Limited
                    020 7739 8200


                                                                  Northamber PLC
                                                         Unaudited Interim Results
                                                  For Six Months Ended 31st December 2001

Consolidated Unaudited Profit And Loss Account
For the six months ended 31st December 2001

                                                 6 months ended         6 months ended       12 months ended
                                               31 December 2001       31 December 2000          30 June 2001
                                                    (Unaudited)            (Unaudited)             (Audited)
                                                          £'000                  £'000                 £'000

Turnover                                                118,410                150,491               299,170
Cost of sales                                         (110,719)              (139,575)             (274,808)
                                                     ----------             ----------            ----------
Gross profit                                              7,691                 10,916                24,362
Net operating expenses                                  (7,677)                (7,309)              (18,585)
                                                     ----------             ----------            ----------
Operating profit                                             14                  3,607                 5,777
Interest receivable                                          86                     26                    80
Interest payable                                           (20)                  (130)                 (349)
                                                     ----------             ----------            ----------
Profit on ordinary
activities before taxation                                   80                  3,503                 5,508
Taxation                                                   (21)                (1,098)               (1,762)
                                                     ----------             ----------            ----------
Profit on ordinary activities
after taxation                                               59                  2,405                 3,746
Equity dividends                                          (715)                  (727)               (2,000)
                                                     ----------             ----------            ----------
Retained profit for period                                (656)                  1,678                 1,746
                                                         ======                 ======                ======
Earnings per Ordinary share                               0.18p                   7.2p                 11.3p
                                                     ----------             ----------            ----------


All operations are continuing

There is no difference between the profit on ordinary activities before taxation
and the retained profit for the period stated above, and the historical cost
equivalents.


CONSOLIDATED UNAUDITED INTERIM BALANCE SHEET
At 31st December 2001


                                               At 31st December      At 31st  December          At 30th June
                                                           2001                   2000                  2001
                                                    (Unaudited)            (Unaudited)             (Audited)
                                                          £'000                  £'000                 £'000

Fixed assets
Tangible assets                                           7,446                  4,286                 7,320
Investments                                               2,837                  2,837                 2,837
                                                     ----------            -----------            ----------
                                                         10,283                  7,123                10,157
                                                     ----------            -----------            ----------
Current assets
Stocks                                                   16,261                 18,225                14.944
Debtors                                                  29,545                 42,856                33,025
Cash at bank and in hand                                  4,555                  2,126                 1,403
                                                     ----------             ----------            ----------
                                                         50,361                 63,207                49,372
Current Liabilities
Creditors - amounts falling due within
one year                                               (26,722)               (34,493)              (23,922)
                                                       
                                                     ----------             ----------            ----------
Net current assets                                       23,639                 28,714                25,450
                                                     ----------             ----------            ----------

Total assets less current liabilities                    33,922                 35,837                35,607

Creditors - amounts falling due after
more than one year                                            -                  (937)                 (831)
Deferred Taxation                                         (101)                    (1)                 (101)
                                                     ----------             ----------            ----------
Net Assets                                               33,821                 34,899                34,675
                                                         ======                 ======                ======
Capital and reserves
Called up share capital                                   1,625                  1,652                 1,638
Share premium account                                     5,711                  5,711                 5,711
Capital redemption reserve                                  147                    120                   133
Profit and loss account                                  26,338                 27,416                27,193
                                                     ----------             ----------            ----------
Equity Shareholders' Funds                               33,821                 34,899                34,675
                                                         ======                 ======                ======
Net assets per share                                     104.1p                 105.6p                105.8p




Consolidated Cash Flow Statement
For the 6 months ended 31st December 2001
                                                6 months ended        6 months ended       12 months ended
                                              31 December 2001      31 December 2000          30 June 2001
                                                   (Unaudited)           (Unaudited)             (Audited)
                                                         £'000                 £'000                 £'000

Cash flow from continuing operating
activities                                               4,804                 5,774                12,847 
                                                    ----------            ----------            ----------
Returns on investments and servicing of
finance
Interest received                                           86                    26                    80
Interest paid                                             (20)                 (130)                 (428)
Income from fixed asset investments                         87                   100                   196
                                                    ----------            ----------            ----------
Net cash outflow from returns on
investments and servicing of finance                       153                   (4)                 (152)
                                                    ----------            ----------            ----------
Taxation
UK corporation tax paid                                  (241)                 (342)               (2,639)
                                                    ----------            ----------            ----------
Capital expenditure and financial
investment
Purchase of tangible fixed assets                        (730)               (1,870)               (5,435)
Fixed Asset Investments                                      -                   (4)                   (4)
Sale of tangible fixed assets                              190                    13                   292
                                                    ----------            ----------            ----------
Net cash outflow from capital
expenditure and financial investment                     (540)               (1,861)               (5,147)
                                                    ----------            ----------            ----------
Equity dividends paid                                        -               (1,327)               (2,049)
                                                    ----------            ----------            ----------
Cash inflow before financing                             4,176                 2,240                 2,860
                                                    ----------            ----------            ----------
Financing
Purchase of shares                                       (193)               (1,139)                (1,440)
Issue of ordinary share capital                              -                     -                     -
Debt due beyond a year:
Repayment of secured loan                                (831)                   (7)                 (113)
                                                    ----------            ----------            ----------
Net cash outflow from financing                        (1,024)               (1,146)               (1,553)
                                                    ----------            ----------            ----------
Increase in cash in the period                           3,152                 1,094                 1,307
                                                        ======                ======                ======


NOTES


1.         The Directors have declared an interim net dividend of 2.2p per
ordinary share (2000 - 2.2p) which will be paid on 3rd May 2002 to shareholders
on the register on 19th April 2002. The ex-dividend date for the shares will be
17th April 2002.


2.         The tax charge for the six months ended 31st December 2001 has been
based on the expected tax rate for the year of 30%.


3.         The calculation of earnings per share is based on profits of £59,000
(2000 - £2,405,000) on the weighted average number of 32,549,625 (2000 -
33,297,959) ordinary shares in issue.


4.         The calculation of net assets per ordinary share is based on
32,499,000 (2000 - 33,039,000) ordinary shares being the number of shares in
issue at the end of the period.


5.         The interim financial statements for the six months ended 31st
December 2001 are unaudited.  They have been prepared on the basis of accounting
policies consistent with those adopted for the year ended 30th June 2001.  The
results for the year ended 30th June 2001 have been summarised for comparative
purposes within the meaning of Section 240 of the Companies Act.  The full
financial statements for the year ended 30th June 2001 were reported on by the
auditors without qualifications or statements under Section 237(2) or (3) of the
Companies Act 1985 and have been delivered to the Registrar of Companies.


6.         A copy of the Interim Statement is being sent to all shareholders and
is available to the public from the Company's trading office at 1 Lion Park
Avenue, Chessington, Surrey, KT9 1ST.


7.         These interim results were approved by the Board of Directors on 13th
February 2002.



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