Northamber hails return to growth

Distributor's top line heading in the right direction again thanks to positive progress in fiscal Q1

Northamber returned to growth in its Q1

Distributor Northamber has returned to top-line growth following a sustained period of declining sales.

In an interim management statement this morning, the distributor revealed turnover for its fiscal first quarter to 30 September came in ahead of last year’s total, as well as that of Q4. For its fiscal year to 30 June, Northamber saw turnover fall eight per cent to £128.5m.

The distributor also logged an operating profit during its first quarter, compared with a loss in the same period last year.

Northamber chairman David Phillips said: “After the challenging trading conditions of very recent years, it is pleasant to be able to report positive progress and support my cautiously optimistic statement in the recent annual report.”

However, Phillips also struck a cautious note in the statement, pointing to the fluidity of the economy, the scheduled change in VAT and the unknown effects of the public sector cutbacks.

“In such conditions it is impossible to be anything other than cautious, which is another reason why we will continue to place importance in the strength of our balance sheet and the control of our working capital as well as optimising our net revenues,” he said.