Northamber FY profit plummets

24th Sep 2009 08:55

Computer hardware supplier Northamber reported a massive drop in full year pre-tax profit as it battled against difficult trading conditions and added that trading was unlikely to pick up in the current half.Pre-tax profit fell to £47,000 for the year ended June 30 from £627,000 a year earlier. Revenue fell to £139.3m from £179.7m. The group cut 25 jobs amid the difficult trading conditions to around 165 staff, the group said.Looking ahead Northamber added, "Whilst significant new franchises have been secured since year-end, with extended delivery time frames and launch delays, their impact is unlikely to have any swift or strong contribution in the current half. With the experience of the recent past and current negative predictions, it is not possible to be sanguine about the future." The board is proposing a final dividend of 1p per share, which combined with the interim dividend of 0.6p per share makes a total for the year of 1.6p down from 2.2p in 2008.