Northamber againdelivered a damning prognosis for the year ahead as it filed resultsfor fiscal 2009, revealing that only interest payments from its cash inthe bank and rental income kept the accounts in the black.
Salesfell 22% to £139.3m in the year to 30 June while payments of £355k fromthe bank and £12k from renting warehouse space turned a £320koperational loss into a £52k profit, down 87% on 2008.
"Nonetheless,in the exceedingly difficult conditions, I have to consider this resultcreditable, and thank all members of the company for their efforts andcontribution," said Northamber Chairman David Phillips in a statementaccompanying the results.
Meanwhile, profits at Westcoast and XMA parent Kelido Ltd tumbled 74% in 2008as a result of hefty interest repayments, weak market conditions and asteep rise in costs.
Group operating profits of £6.34mfor the year ended 31 December 2008 were wiped out by a £6.51m interestcharge, resulting in an operating loss of £126k, but tax gains of £220kgave the company a profit of £94k (compared to £435k in 2007).
Hewlett-Packard revealed it is looking to externally recruit a head for itsPersonal Systems Group (PSG) as it emerged that Dave Poskett is in lineto take on a channel role in the business unit under the revampedorganisational structure.
The channel management teams have been folded into the Enterprise Server and Storage (ESS) and Technology Solutions Group (TSG) product divisions and the same is happening to the bods that looked after PC and printer resellers.
CCD has been talking to two broadline admirers interested inacquiring the business but as yet the offers on the table have not metexpectations.
Mike Norris, chief exec atComputacenter, is in no hurry to sell its distribution arm CCD, as thebusiness had become profitable following its decision last year to stop selling PCs and printers, which has also freed £10m in working capital.
He told MicroScope: "The business makes money and I can understand whypeople would want to buy it but I genuinely think the likelihood isthat we will continue owning that asset.
Finally, the controversy surrounding this year's job losses at Nortel'sUKoperation has taken a bizarre turn after the far-right British National Partywaded into the row.
In an open letter to the administrators, Ernst & Young, partyleader Nick Griffin claimed he was "under no illusions about the root cause ofthis disgraceful episode lies [sic] in the global economy".