StockMarketWire.com - Northamber says that sales improved during the first quarter enabling the computer supplier to swing back to an operating profit.
The additional sales were achieved on lower gross margins but coupled with the reductions in the cost base were sufficient to bring the Company back into profit.
The Company has no structured debt and had cash in hand of £11.6mat 30 September 2010 compared with £9.1m at 30 September 2009, which represented approximately 40p per share.
Going forward, the Board is cautious of the unknown effects of the "cuts" which have yet to manifest themselves and the scheduled change to the rate of VAT.
Story provided by StockMarketWire.com
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