Northern Bear PLC (AIM:NTBR) shares leapt 12% higher to 106.39p after the building and support services company said trading had been ahead of expectations since reporting results in July.
The Newcastle-upon-Tyne company said underlying profit (EBIT) for the first half of the year suggested a full-year outcome "broadly consistent" with the strong profit performance seen in the previous year.
This excludes losses from fit-out arm H Peel & Sons and related costs from closing its Dewsbury operation last year due to lower demand from its leisure and hospitality customers.
A non-recurring operating profit of roughly £1 million is also expected in the first half, which the group said has enabled it to fully repay outstanding term debt of £1.3 million relating to the tender offer settled in December 2023.
"Excluding this non-recurring profit, the board currently expects EBIT for the year to 31 March 2026 to be broadly in line with adjusted FY25 EBIT, noting our strong performance in H2 FY25 due to favourable winter weather conditions. "
Interim results will be posted in late November.