REG - Northern Bear Plc - Trading Update

Northern BearAnnouncement

06/03/2025 07:15

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RNS Number : 5482Z  Northern Bear Plc  06 March 2025

6 March 2025

Northern Bear plc

("Northern Bear" or the "Company")

 

Trading Update

Northern Bear (LSE:NTBR), the AIM quoted group of companies providing
specialist building and support services headquartered in Northern England and
serving customers across the UK, is pleased to provide a trading update in
respect of the financial year ending 31 March 2025 ("FY25").

Unlike in FY24, the Winter months have, to date, been relatively mild and dry
in FY25 and this has supported trading for our roofing division, in
particular. We have also benefited from strong performance in our building
services division following our investment in operations as described in the
interim report.  This includes continued growth at Isoler, our fire
protection business, after its relocation to new, larger, premises and some
excellent contracts secured by MGM and Arcas Building Solutions ("Arcas").

We are delighted that EBIT is likely to exceed market expectations and be in
the range of £3.15m - £3.45m. Our order book remains strong and we are
hopeful of a good end to the financial year.

We have made the decision to close our fit-out operation at H Peel & Sons
("H Peel") in Dewsbury. H Peel has been particularly impacted as its primary
markets - Leisure and Hospitality - have struggled to recover from the COVID
pandemic. As a result, we will integrate its business and ongoing contracts
into Arcas, our specialist building solutions business in the North East of
England. We have fully accounted for trading losses and expected closure costs
in the EBIT expectation for the year to 31 March 2025 stated above.

As a result of the continued strong trading, we have repaid a further £500k
off the term debt raised to facilitate the Tender Offer in November 2023. The
balance on the term loan account now stands at £1.6m.

 

For further information, please contact:

 Northern Bear PLC

 John Davies - Executive                                                                                                                                                                      +44 (0) 166 182 0369
 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

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018.

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