Northern Bear trades in line with expectations

11th Mar 2019 08:27

(Sharecast News) - After a strong start to the 2019, building services outfit Northern Bear expects to report an annual result in line with its previous year.Northern Bear turned a solid showing from its subsidiaries between November 2018 and January 2019, which had continued to trade ahead of management expectations over the last few months.The AIM-listed firm also acknowledged that the last two months of its fiscal year were part of a "key trading period", but assured investors that current expectations were that operating profits, prior to the impact of non-cash amortisation and transaction costs, would be "broadly in line with the prior year".Northern Bear saw profits soar in the first half of its trading year to 30 September, boosted by a rather strong showing from its roofing and specialist services wing.The company's pre-tax profits shot up 23% to £1.6m in the first six-month period, while revenues improved 5.1% to £28.6m.As of 0820 GMT, Northern Bear shares had tumbled 15.96% to 63.45p.