Northamber PLC - London-based distributor of audio-visual and information technology equipment - Swings to a pretax loss of GBP447,000 for the financial year that ended on June 30 from a profit of GBP385,000 the year before, as administrative costs rise by 21% to GBP3.4 million from GBP2.8 million. Says the fall in the value of sterling "translated into a swing from a foreign exchange profit of GBP223,000 in 2021 to a loss of GBP164,000 in 2022". Turns to an operating loss of GBP452,000 from a profit of GBP377,000 the year before. However, revenue is up 10% to GBP66.3 million from GBP60.0 million the year before.
Proposes a final dividend of 0.3 pence per share, down 25% from 0.4p a year prior. Looking ahead, Northamber says it remains "cautiously optimistic" that its investments will drive growth.
Current stock price: 45.02 pence, down 2.1% on Friday afternoon in London
12-month change: down 33%
By Xindi Wei; xindiwei@alliancenews.com
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Northamber (NAR)