Northamber boss upbeat over future as losses widen

Northamber's first half losses have widened slightly year-on-year but there are indications the business is heading in the right direction

Northamber has seen its first half pre-tax losses widen slightly, but the distributor is making more optimistic noises about the future as it looks to focus its business on higher growth areas.

First half losses increased to £0.7m from £0.3m a year before and revenue was also down at £30.2m, compared with £41.6m in the same period a year earlier with a decline in some of the traditional product areas being blamed.

"Our necessarily accelerated actions to re-focus our business model into new and growth areas are progressing well," said Northamber chairman David Philips, who also highlighted some of its other efforts to realign the firm.

"Following restructures, we achieved ongoing overhead savings of £770,000 pa, nearly half of which are related to savings in personnel costs and after redundancy payments," he added in the statement.

Philips was also more upbeat about the future, pointing out that the changes that it had made in the business would start to have an impact on the bottom line in the next few months.

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