Northern Bear lifts profits

25th Jun 2009 08:15

Support services group Northern Bear posted a rise in profits despite tough trading, helped by its exposure to specialist businesses such as fire protection, asbestos removal and equipment rental. In the year to March 31, pre-tax profits climbed to £2.86m from £2.25m the previous year on revenues that rose to £41.76m from £32.24m.While all of the group's 13 businesses, which include roofing firms and a fork-lift truck supplier, have experienced challenges, Northern Bear said strong performances from those operating in specialist sectors have helped offset weakness experienced by other businesses, such as those exposed to housing construction.The firm said that it has decided to suspend the final dividend in light of ongoing uncertainty in the market.