Northamber PLC
8 November 2001
Northamber plc
- Statement on Current Trading -
Following the events in the USA of 11th September and the preliminary
announcement on 24th September, the Company has not seen the traditional
upward trend in trading activity during late September and October within the
commercial IT market sector. The very recent Microsoft XP product launch has
also, as yet, failed to have any beneficial effect on sales.
The steps taken since last July to re-align costs, as referred to in the
preliminary announcement with improvements to operating efficiencies, are
beginning to have the intended beneficial effect. However, it is difficult to
predict the length of this further downturn in trading activity. Therefore
the Board believes it likely that the Group will continue to mark time and
trade at or around a break-even position for the first half of the year.
The Company's cash position and balance sheet have remained very strong as we
have taken a prudent attitude to trading and have significantly reduced the
level of trade debtors. We continue to be cash generative as our working
capital needs decline.
With an uncertain trading environment the Board finds it very difficult to
anticipate the likely outcome for the year to 30 June 2002. However, the
Board considers that after a period of marking time, the company will be very
well positioned to benefit from the upturn when it finally arrives.
8th November 2001
Enquiries: David Phillips
Chairman
Northamber plc
020 8296 7000
Robert Corden
Charles Stanley & Company Limited
020 7739 8200
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