Profits drop at Nimans
SALFORD-based telecoms firm Nimans recorded a sharp drop in profits last year.
But the founder of the business, Julian Niman, said he was satisfied with the overall performance in a “highly competitive market place and a deteriorating economic situation.”
In Nimans’ latest annual accounts he said: “The effect has lead to a reduction in turnover of £2m. Gross margins remain under pressure as a result of the above situation [the economy].
“The balance sheet remains extremely strong with a 2% increase in net assets and a positive cash inflow of £2.3m.”
During the year to December 31 turnover dropped 4% to £47m. Pre-tax profits fell sharply by 72% from £1m to £285,533. Gross margins at the business also fell, dropping 1.3% to 20.9%.
Nimans specialises in the sale of telecoms equipment such as telephone systems, headsets and audio conferencing products which are sourced from major manufacturers including BT, Panasonic, Siemens, NEC and Plantronics.
The business was founded in 1981 by Mr Niman and has grown into a multi-million pound turnover operation, employing some 188 staff. The company is based on the Agecroft Business Park in Salford.
In March Nimans completed a £12.45m takeover of rival Rocom from parent AT Communications Group.
