Trading Update

Northern Bear Plc

12 September 2023

 

12 September 2023

Northern Bear plc

("Northern Bear" or the "Company")

Trading Update

The Board of Directors (the "Board") of Northern Bear (LSE:NTBR), the AIM listed group of companies providing specialist building and support services to customers in Northern England and across the UK, is pleased to provide an update on trading for the Company and its subsidiaries (together, the "Group") ahead of its Annual General Meeting at 2.00pm today at A1 Grainger, Prestwick Park, Prestwick, Newcastle upon Tyne, NE20 9SJ.

Ahead of that meeting Northern Bear confirms that the Group has continued to trade in line with management's expectations since publication of the preliminary results on 17 July 2023.  Trading in the new financial year from 1 April to 31 July is ahead of strong prior year results for the same period, and site activity levels remain high despite the ongoing economic challenges and their related impact on the construction industry.

The Group's interim results are expected to be released in November 2023, at which point the Board will provide further guidance as to the full financial year ending 31 March 2024 as we continue to monitor ongoing uncertainties in the economic climate in which we operate, including challenges with attracting and retaining high quality employees in the construction industry.

Jeff Baryshnik, Non-Executive Chairman of Northern Bear, commented:

"I am delighted that whilst relatively early in the Group's financial year, our forward order book remains robust and is expected to support full year results in line with management's and the market's expectations." 

For further information, please contact:

Northern Bear PLC Jeff Baryshnik - Non-Executive Chairman Tom Hayes - Finance Director	[phone]
Strand Hanson Limited (Nominated Adviser) James Harris James Bellman	[phone]

Hybridan LLP (Nominated Broker) Claire Louise Noyce

[phone]

 

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