Nycomm earnings hold up in tough market

TELECOMS equipment supplier, the Nycomm Group, delivered a “robust” performance last year despite an “extremely challenging” economic climate.

Newly-filed accounts for the Salford company, which includes Nimans and Leeds-based Rocom, show revenue dipped to £72.9m from £74m, while pre-tax profits slipped from £3m to £2.8m.

The group, which sells telephone systems, headsets and audio conferencing products, said the lower profit figure reflected a continued investment in staff but also a tough sales environment.

The directors’ report explained that deferred spending by customers had contributed to a double digit decline across the telecoms sector.

They added: “Our robust performance in the face of this is very much a reflection of the effort and commitment of all employees and we would like to thank them for their hard work which has allowed us to make significant progress over the year.”

The accounts show the business paid £2.3m for Altrincham-based videoconferencing business Videonations in December. Nycomm said the deal had left it in a strong position to capitalise on the “rapidly evolving business communications market”.

By the year end group cash had increased to £4.1m and net assets rose by £1.8m to £18.5m. The business employs 260 staff and is controlled by chairman Julian Niman. Total dividends rose from £195,000 to £290,000.

Nycomm declined to comment on the figures.