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Northamber sees 65% increase in H1 profit buoyed by revenue and gross margin growth
StockMarketWire.com
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IT equipment supplier Northamber has announced that growth in revenue and gross margin were behind a 65% year on year in profit in the six months to 31 December 2020.
Revenues increased 13% in the first half from £26.3 million to £29.6 million for the comparative period last year.
Its gross margin rose from 8.8% to 12.8% during the period, which the company attributed to its 'evolving product mix' towards higher margin, more technical products through Northamber and AVM.
Northamber said that the cumulative effect of both was to increase gross profit from £2.3 million to £3.8 million, an increase of 65%.
Distribution costs were also up year on year from £1.53 million to £2.28 million with part of this costs increase coming from the addition of AVM to the group.
The board has proposed an interim dividend of 0.3p, at a total cost of £81,695.
At 8:54am: (LON:NAR) Northamber PLC share price was 0p at 57p
Story provided by StockMarketWire.com
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