Supplies firm O2O sees profit dip

Office supplier Office2Office (O2O) yesterday reported a 22.6 per cent fall in underlying profits to £6.5m as longer holiday periods dampened sales. Pre-tax profits for the year ending 31 December 2012 fell to £700,000, from £4.3m, with the company citing non-recurring costs of £4m. Despite a tough outlook, the firm increased its revenue to £227.3m from £193.5m.