Northern Bear plc (“Northern Bear”, the “Company”, or, together with its subsidiaries, the “Group”)
The Board of Directors of Northern Bear is pleased to provide an update on trading for the three month period ended 31 December 2017.
Following the publication of the Group’s unaudited interim results for the six months to 30 September 2017, the Group has continued to trade strongly.
The Board is delighted to announce that the Group’s turnover and adjusted profit before income tax from continuing operations (stated prior to the impact of transaction costs and the amortisation of acquired intangibles, both associated with the acquisition of H Peel & Sons (Holdings) Limited announced in July 2017) are currently ahead of both management expectations and excellent prior year results.
The Group continues to have a high level of committed orders and the Directors remain positive about the outlook for trading in the remainder of the financial year ending 31 March 2018.
Despite poor weather in January 2018, and subject to there being no exceptional adverse weather conditions over the remainder of the winter period, we look forward to announcing another strong set of results for the full financial year. The Board will update shareholders further following the Group’s financial year end.
Carillion plc liquidation
The Board notes the announcement made by Carillion plc on 15 January 2018, stating that it was entering into compulsory liquidation with immediate effect.
Whilst the Group has occasionally traded with companies within the Carillion plc group, there has been no material direct impact on the Group’s results arising from the liquidation.
As a Board, we are of the opinion that the full impact of the liquidation on the wider industry in which the Group operates will only become clear over the medium term. Should we become aware of any material indirect impact on the Group’s results we will, of course, update shareholders further.
For further information, please contact:
Northern Bear PLC
Steve Roberts – Executive Chairman
Tom Hayes – Finance Director
+44 (0) 166 182 0369
Strand Hanson Limited (Nominated Adviser and Broker)
+44 (0) 20 7409 3494