At Northern Bear PLC, we’re thrilled to share some positive newsâour financial performance is exceeding market expectations, putting us in a strong position as we continue to grow and evolve. With earnings before interest and tax (EBIT) projected between ÂŁ3.15 million and ÂŁ3.45 million for the year ending 31 March, weâre seeing good progress compared to last year . This growth is a testament to the strength of our subsidiaries, our strategic investments, and the hard work of our incredible teams.
One of the biggest factors behind our success has been the continued strength of our building services division. Our fire protection business, Isoler, has seen continued growth following its move to larger premises, while MGM Construction and Arcas Building Solutions have secured major contracts, reinforcing our position in the market. The roofing division has also benefitted from an unusually mild and dry winter, which has allowed for increased activity and strong trading performance.
As we focus on sustainable growth, weâve made some strategic business adjustments to ensure weâre prioritising the right areas. Due to ongoing challenges in the leisure and hospitality sector, we made the decision to close our fit-out operation at H Peel & Sons. However, this isnât the end of the roadâits business and ongoing contracts are being seamlessly integrated into Arcas, ensuring continuity for our clients and strengthening our specialist building solutions division. The costs of this closure have already been accounted for in our earnings projections, allowing us to continue moving forward with confidence.
Financially, weâve recently repaid ÂŁ0.5 million of debt from our November 2023 tender offer, reducing our loan balance to ÂŁ1.6 million. This continued financial discipline is helping us build a solid foundation for the future.
As we approach the end of the financial year, weâre optimistic about what lies ahead. Our order book remains strong, and with the momentum weâve built across our divisions, weâre confident in our ability to sustain this success. The market has taken notice tooâour share price recently rose 8.5%, reaching 56.94 pence.
At Northern Bear PLC, we value the dedication of our subsidiaries, the trust of our stakeholders, and the support of our clients. Weâre excited about the opportunities ahead and look forward to continuing this journey of growth and success. Thank you to everyone who has been part of this incredible yearâwe canât wait to see what the future holds!
