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NAR Northamber Plc

0.00 (0.00%)
Last Updated: 08:00:05
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Northamber Plc LSE:NAR London Ordinary Share GB00B2Q99X01 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 42.00 27 08:00:05
Bid Price Offer Price High Price Low Price Open Price
41.00 43.00 42.80 42.00 42.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Computers & Software-whsl 67.15M -411k -0.0151 -27.81 11.44M
Last Trade Time Trade Type Trade Size Trade Price Currency
08:00:04 O 27 41.00 GBX

Northamber (NAR) Latest News

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Northamber Forums and Chat

Date Time Title Posts
06/5/202421:27Northamber Total Distribution202
18/8/201512:39Northamber(NAR)-An early Christmas Gift?Ј1 coins for 80p+Ј1 worth of stock free281
30/10/201411:08*** Northamber ***5
02/10/200612:37NAR - down and down4

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Northamber (NAR) Most Recent Trades

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Northamber (NAR) Top Chat Posts

Top Posts
Posted at 23/5/2024 09:20 by Northamber Daily Update
Northamber Plc is listed in the Computers & Software-whsl sector of the London Stock Exchange with ticker NAR. The last closing price for Northamber was 42p.
Northamber currently has 27,231,586 shares in issue. The market capitalisation of Northamber is £11,437,266.
Northamber has a price to earnings ratio (PE ratio) of -27.81.
This morning NAR shares opened at 42p
Posted at 19/11/2021 17:41 by hybrasil
I have been invested here for a very very long time. Is it about to come good?It is value with 90+P worth of assets as against todays share price.

I suppose the new generation has to prove itself
Posted at 15/10/2021 06:50 by ntv
I was looking at this share as a potential value purchase. It looked quite good until I found what appears to be a very large spanner in the works
Under related party transaction it appears to owe a directors company over £6m an increase of over £1.8m ?! Maybe the financials are not as good as they are supposed to look
Posted at 31/1/2021 09:15 by spob
It's a bit like the Sainsbury family selling all of their share holdings down to a fraction of what they had originally held

and then throwing a hissy fit when the Quataris come along and want to buy the whole company for 600p

I think they said something like... "No price is high enough"

Posted at 18/2/2020 15:39 by tokyojoe007
A few investors discussed this being a value play around 30p on Advfn, noted the Chadwick notifiable RNS (both in originally and reduced last week), and used the liquidity created by the ST tip to get partially out at a healthy return, in what is a v illiquid share. Me for one, that was before knowing about the tip or listening to the Graeme podcast, which I thought was well presented. Anyhow the bigger question is why the sustained rise, whilst Nar intent on doubling down, on their long held distribution focus - long may the share price continue upwards
Posted at 18/2/2020 15:07 by spob
from memory you talked about liquidity allowing someone to sell

and taking advantage of ST to do that

and I still think selling Northamber on the back of the ST tip last week is unprofessional

you mention someone with a notifiable interest selling NAR

what percentage of your listeners have a notifiable interest in any stock Lol

I have a position in Northamber

built up a long time ago and before the ST tip last week
Posted at 18/2/2020 14:07 by rndm355
Graham here. I'm going to have to respectfully disagree with your assessment:

- I said in the podcast that anyone who wanted to hold the share for the long term should treat the tip as short term noise, no need to sell into it if that's the case.

- the podcast explained in some detail why I think the intrinsic value at Northamber is less than it first appears.

- two very experienced and professional investors who know Northamber extremely well and who I know personally did use the share tip to sell Northamber shares (one of these had a publicly notifiable position, the other did not). On the other hand, I don't know of any professional investors who bought into the company on the back of the tip.
Posted at 18/2/2020 12:10 by jpeel60
In this latest podcast, Graham talks about the “Simon Thompson effect” on share prices, Northamber (#NAR), and the astonishing RNS from Tandem Group (#TND), where Graham is a shareholder.
Posted at 17/2/2020 22:55 by spob
Simon Thompson

Investors Chronicle

Bargain shares for 2020

7 February 2020


Aim: Share price: 53p (6 Feb 2020)

Bid-offer spread: 51-55p

Market value: £14.5m


Founded four decades ago by late chairman David Phillips, Northamber(NAR) is widely recognised as the largest UK-owned trade-only distributor within the IT equipment industry. The business has more than 100 strategic alliances with the industry's leading manufacturers and distributes a comprehensive range of electronic products to provide solutions for the IT and communications needs of small and medium-sized enterprises (SMEs).

Northamber is not directly involved with the ultimate users of the products it sells, rather it acts as a hub through which manufacturers provide products to resellers for sale to the ultimate end user. As a result it has to develop strategies with both suppliers and resellers to satisfy the needs of the ultimate users of the products. The strategy is to assess their requirements, source quality products and services from reliable brand-named manufacturers, and make them available to resellers at the best prices in the most efficient time frame. Moreover, with an ever-changing product range coming onto the market, the company needs to seek out fresh new products that will prove attractive to end users.

The company operates from its head office in Chessington, Surrey which is home to more than 50 sales and customer support staff and teams working in purchasing, credit service, commercial web and marketing. The IT products are held in an 80,000 sq ft warehouse in Weybridge, which has more than 7,500 pallet bays and 13 loading bays, enabling Northamber to deliver 98.9 per cent of orders the next working day.

However, it’s a cut-throat industry, one reason why Northamber has failed to report a profit in any one of the past seven financial years, racking up cumulative pre-tax losses of £6.4m on aggregate revenue of £433m since 30 June 2012.

Given this dire performance, and the fact that 85 per cent of the 27.333m shares are held by the top five shareholders, it’s hardly surprising that the shares have underperformed, falling from a peak of 255p two decades ago. In fact, until last summer the share price was trading around its 2009 bear market low of 28p.

Despite the chronic underperformance, and a poor operational track record, there are reasons to believe that the share price move since last summer’s lows is the real deal rather than another false dawn.

Reasons for optimism

Firstly, in the annual results released at the end of last year, acting chairman Geoff Walters made the important point that the planned exit from low-margin and commoditised products is starting to pay off. Gross margin increased from 8.4 per cent in the first half of the financial year to 8.8 per cent on 7 per cent higher six-monthly revenue of £26.1m in the second half. This has been helped by the expansion of audio-visual solutions products. Indeed, increasing profitable product ranges helped drive a reduction in the six-monthly pre-tax loss from £353,000 to £245,000. Also, one reason for the loss is that a supplier of a new product breached its contract with Northamber, which led to lost sales and contribution. Northamber swiftly took action against the supplier and a related party, which has resulted in an interim award judgement of £431,000 plus costs in its favour.

Secondly, the company has a cash-rich balance sheet and one that has been boosted significantly following the £16.4m cash sale (post the 30 June 2019 financial year-end) of the aforementioned Weybridge facility. The property was purchased by Northamber for £6.35m in April 2012 and is valued in the company’s accounts at £6m. This means that Northamber’s cash pile will have soared more than fivefold to £19.8m when the sale completed, a significant sum in relation to the company’s market capitalisation of £14.5m and its last reported NAV of £16.6m.

Admittedly, Northamber has agreed to pay rent of £175,000 to the vendor of the Weybridge property for the next two years as part of the sale agreement, but it has also recently acquired a 51,000 sq ft freehold warehouse on a two-acre site in Swindon for £3.2m and one that meets the company’s current requirements. It is much closer to its courier partner, too. I would flag up that Northamber holds one other unencumbered freehold property which has a book value of £1.8m and is conservatively valued in the accounts.

The point being that even if you ignore the £5m value of these two unencumbered freehold properties, I reckon Northamber’s pro-forma current assets of £29.5m are four times higher than its last reported current liabilities of £7.4m, so the company’s working capital position is incredibly strong and offers investors the “margin of safety” that Ben Graham was looking for. Furthermore, net current assets of £22.1m are 1.5 times the company’s market capitalisation of £14.5m. Factor in the value of the freehold properties and I estimate a live NAV of £26.6m, or 97p a share. That’s almost double the current share price.

Thirdly, with the benefits of a cash rich balance sheet, Northamber completed earlier this week the £2.1m acquisition of audio-visual distributor Audio Visual Materials (AVM), a company that reported a pre-tax profit of £300,000 in its 2018 financial year. Northamber’s directors feel the business will help expand its own audio visual segment and drive higher growth for IT and audio visual resellers in certain key areas including professional displays, video conferencing, and room booking systems. After taking into account the improvement in Northamber’s trading results, the contribution from AVM certainly supports a move back towards operating profitability for the enlarged entity.

The bottom line

Northamber is a debt free company which will have £14.5m of cash once the Swindon warehouse purchase completes, will own two unencumbered freehold properties that are conservatively worth £5m and perhaps significantly more on the open market, and is trading in line with cash even though the business is showing signs of improvement and earlier this week completed the AVM earnings’ accretive acquisition. Also, there is a possibility that Northamber could itself become a target after founder and 63 per cent shareholder Mr Phillips passed away in December at the age of 74. He is survived by his wife, son Alexander (who has a director role at the company) and daughter.

Please note that although the shares are tightly held – excluding the top five shareholders there are only 4.1m shares in issue – it’s possible to trade in bargain sizes well in excess of the London Stock Exchange normal market size of 1,000 shares. Indeed, in the past month trades of up to 25,000 shares have passed through the market between the official bid-offer spread.

Bargain buy.
Posted at 13/12/2019 14:05 by cjohn
7 Dec '19 - 12:27 - 133 of 135
0 0 0
With the death of David Phillips the share price has actually gone up. There must be a few punters out there who believe the company will finally come to its senses and wind up and return the cash to shareholders.

Instead, they spend 3.2m on a freehold warehouse.
Posted at 07/12/2019 12:27 by arthur_lame_stocks
With the death of David Phillips the share price has actually gone up. There must be a few punters out there who believe the company will finally come to its senses and wind up and return the cash to shareholders.
Northamber share price data is direct from the London Stock Exchange

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