Northern Bear FY Pretax Loss GBP1.11M Vs Loss GBP2.86M

7th Jul 2010 08:42

LONDON (Dow Jones)--Northern Bear PLC (NTBR.LN), acquires and operates mature building services businesses, announced Wednesday it made a pretax loss of GBP1.11 million for the year ended March 31, compared with a wider loss of GBP2.86 million. MAIN FACTS: -Revenue GBP35.0 million (2009 GBP41.8 million) -Operating profit (pre-exceptional) GBP1.7 million (2009 GBP3.7 million) -Loss per share: 7.2 pence (2009: profit 11.5 pence) -Adjusted (pre-exceptional) earnings per share 4.5 pence (2009 12.2 pence) -Successful completion of revised banking covenants -The Board have decided that, since cash conservation is of prime importance, it is prudent to withhold the dividend but will look to reinstate it at the earliest possible opportunity. -These results represent a strong performance in the context of the current economic climate, where the U.K. economy has just emerged from six successive quarters of negative growth and both the sector and geographic region in which the company operate were particularly exposed to the downturn. -The new financial year has started well, with strong order books and a healthy pipeline far exceeding the outlook at the corresponding time last year. -Shares at 0741 GMT stood at 35.50 pence. -By Zechariah Hemans, Dow Jones Newswires; 44-20-7842-9411; [email protected] (END) Dow Jones Newswires July 07, 2010 03:42 ET (07:42 GMT)