Business
Half-year Report
Half-year Report.
About this update from Northamber Plc
[{"type":"text","content":"\n \n \n \n Northamber PLC\n \n \n \n \n (\"Northamber\" or the \"Company\" or the \"Group\")\n \n \n \n \n Interim Report for the Six months to 31 December 2022\n \n \n \n \n \n \n \n \n \n Chairman's Statement\n \n \n \n \n \n \n \n \n \n Results\n \n \n \n \n \n \n \n \n We are pleased to have continued to grow revenue year on year by 4.1% from £32.3m to £33.6m whilst maintaining strong gross margins up 10 bps at 13.0% (12.9% prior year) despite challenging market conditions. This served to generate an increase in Gross Profit of £0.2m to £4.4m year on year and reflected our continued focus on evolving our product mix towards higher margin, more technical products through Northamber and AVM.\n \n \n \n \n \n We are confident that we are investing in the right places and continuing to build a strong long term business around some core technology pillars that require and reward value add from distribution. We are pleased to have evolved over recent years to now be recognized as a destination for Audio Visual technology as well as further developing our already strong Infrastructure Solutions, Document Management and Peripherals business.\n \n \n \n \n \n We have expanded our Audio Visual (AV) unit into Unified Communications and Collaborations (UC&C) during the first half of the year with a new partnership with Yealink who are a significant brand in the Microsoft Teams Room and Zooms room space. This new partnership allows us to access a significant new UC&C market for our existing reseller customers as well as bring existing products from our Audio Visual and Infrastructure Solutions business units to a wider market. Whilst costs were accrued last half in developing this category we have already seen a promising pipeline and sales from the category and expect to see the results translate to significant returns for the business.\n \n \n \n \n \n The continued investment in developing our long term strategic areas was unfortunately coupled with significant inflationary pressures and foreign exchange fluctuations, resulting in an increase of 8.6% in distribution and administrative costs year on year from £4.27 million to £4.64 million.\n \n \n \n \n \n These increased costs outweighed the gross margin growth and resulted in a reduction of EBITDA year on year from £64K last year to...