Northamber still cautious despite strong quarter

11th Nov 2010 18:03

Computer hardware supplier Northamber enjoyed a strong first quarter but government spending cuts and the hike in VAR makes management cautious about the future. Revenues grew in the three months to September 2010, helped by newer products. Gross margins declined but pre-tax profit was still higher thanks to a reduction in overhead costs. Fully listed Northamber has net cash of £11.6m. Cash in the bank helps in negotiations with suppliers. Northamber has a net asset value of 89.1p a share - well above the current share price.