Trading Statement

RNS Number : 2138K

Northern Bear Plc

15 April 2010

 



Northern Bear PLC

("Northern Bear" or the "Company")

Year end trading update

The board of directors of Northern Bear (the "Board") is pleased to announce a trading update ahead of the publication of the preliminary results for the 12 months ended 31^st March 2010.

Despite a challenging economic environment and adverse weather conditions we have been able to consolidate our position as one of the leading support service businesses in the North East of England, and expect our year end result (pre-exceptional and restructuring costs) to be at the higher end of market forecasts. 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. 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.

Ends

For further information please contact:

Graham Forrest

Northern Bear Plc                                               [phone]

James Harris

James Spinney 

Strand Hanson Limited                                       [phone]

David Banks

Paul Jewell

Seymour Pierce                                                  [phone]

Adam Reynolds

Hansard Communications                                  [phone]

 

END

 

 

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