Northamber cited challenging market conditions and its decision not to chase "empty revenues" as reasons for the continued sales slide in its fiscal third quarter.
The Surrey-based distributor, which today posted an interim statement for the trading period ended 31 March, also warned that demand levels were again moving in the wrong direction but was unable to determine the impact on yearly sales.
"The lack of strength in the market is evidenced by the unwillingness of vendors to increase prices which would normally be driven by weaker sterling. Without empty revenue having been pursued, the resulting slow decline in turnover continued," it said.
However, gross margins did improve, operating expenses fell 16.8% or £1.3m due to the cost cutting action taken by the firm and cash in the bank grew by £1.5m on 31 December levels to £14.6m.
"As ever, working capital management is a core element of our management processes. Despite adverse conditions and continuing our strategy of always remaining within-terms or seeking early settlement discounts, we maintained our cash surplus," said the firm.