REG - Northern Bear Plc - Trading Update

Northern BearAnnouncement

07/05/2024 07:15

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RNS Number : 3509N  Northern Bear Plc  07 May 2024

7 May 2024

Northern Bear plc

("Northern Bear" or the "Company")

 

Trading update

 

Northern Bear (LSE:NTBR), the AIM quoted group headquartered in Northern
England providing specialist building and support services to customers
across the UK, is pleased to provide an update on trading in the financial
year ended 31 March 2024 ("FY24") for the Company and its subsidiaries
(together, the "Group").

Further to the interim results reported on 29 November 2023, the Group has
continued to trade well over the six months ended 31 March 2024 ("H2 FY24").
 There has been significantly higher rainfall than normal during H2 FY24,
with rainfall in the North East at 153% of the long term average per
Environment Agency statistics, and a total of nine named storms.  This has
inevitably caused some disruption to the Group's site activities, consistent
with the wider construction sector.

As a result, revenue and adjusted operating profit* for FY24 are expected to
be broadly in line with market expectations, albeit at the lower end with
regards to operating profit.  The Board considers this to be a very positive
result in the circumstances, and would like to thank the Group's employees for
their continued hard work and commitment.

This update is provided subject to the finalisation of our audited results for
FY24. The Group's unaudited preliminary results for FY24 are expected to be
released in the week commencing 15 July 2024.

*stated prior to the impact of amortisation, costs related to the recent
tender offer to shareholders, and other one-off costs.

For further information, please contact:

 Northern Bear PLC                           +44 (0) 166 182 0369

 John Davies - Chief Executive Officer

 Tom Hayes - Finance Director

 Strand Hanson Limited (Nominated Adviser)   +44 (0) 20 7409 3494

 James Harris

 James Bellman

 Hybridan LLP (Nominated Broker)             +44 (0) 20 3764 2341

 Claire Louise Noyce

 

 

 

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