Falling pound sends Apple reseller Stormfront into red

One of the UK’s largest official resellers of Apple products fell into the red last year after the plunging value of the pound forced it to hike the price of iMacs and Macbooks. Professional Reseller Group, which has 23 Stormfront stores across the UK and also supplies businesses, made a pre-tax loss of £475,000 in the year to September 2017, down from a £28,000 profit the year before, despite a 5pc rise in revenues to £61.6m. The pound hit a 30-year low against the dollar in the wake of 2016’s EU referendum. Though Devon-based Stormfront buys its products in sterling, …read more

Source:: Yahoo Finance


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