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Northern Bear shares jump as building services group says trading is ahead of expectations

In a trading update for the year ended 31 March 2018, the AIM-listed firm said there has also been a positive contribution to results from H Peel & Sons Limited
roof on a house
Northern Bear said it is planning to continue with a progressive dividend policy

Northern Bear Plc (LON:NTBR) shares rose on Wednesday, as the building services group said its trading is ‘ahead of management expectations’, despite the severe winter weather.

In a trading update for the year ended 31 March 2018, the AIM-listed firm said there has also been a positive contribution to results from H Peel & Sons Limited following its acquisition on 25 July 2017.

READ: Northern Bear roars into action as results set to beat forecasts

The company said it continues to hold a high level of committed orders which provides optimism for another good set of results in the year ending 31 March 2019.

Northern Bear said it is planning to continue with a progressive dividend policy.

Steve Roberts, executive chairman of Northern Bear, said: "Our revolving and overdraft bank facilities provide us with the resource to continue with our progressive dividend policy whilst having the financial wherewithal to look at similar acquisitions without the need to raise new equity.”

In lunchtime trading, Northern Bear shares rose 16.4% to 81.50p. 

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Northern Bear Plc Timeline

Newswire
June 01 2016

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