Northern Bear sees results at higher end

15th Apr 2010 16:32

Shares in Northern Bear rallied after the support services group said it expects full-year results to be at the higher end of market forecasts.The group said this was achieved despite a challenging economic environment and adverse weather conditions. "As indicated at the time of our interim statement, there had been a significant reduction in Northern Bear's net debt position in the two months up to December 2009 together with a substantial improvement in working capital," the group said."We are delighted that these positive trends have continued throughout the second half of the financial year. In addition, we are seeing the early signs of increased activity amongst our businesses and look forward to the future with cautious optimism."