Northern Bear (NTBR)

Sector:

Support

Index:

FTSE AIM All-Share

55.50p
   
  • Change Today:
      0.50p
  • 52 Week High: 64.00p
  • 52 Week Low: 50.50p
  • Currency: UK Pounds
  • Shares Issued: 19.02m
  • Volume: 45,086
  • Market Cap: £10.55m

Northern Bear scraps final dividend as profit drops

By Sean Farrell

Date: Monday 13 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Northern Bear said it would not pay a final dividend after taking government support and asking workers to take pay cuts during the Covid-19 crisis.
Reporting annual results the building services company said it had enough money to pay an unchanged dividend but that it was not appropriate to do so. It intends to restart dividends in the current financial year subject to trading.

Adjusted operating profit for the year to the end of March fell 31% to £2.2m as revenue fell to £54.4m from £56.6m. The company provides services to housebuilders, local authorities, NHS trusts and others, mainly in northern England.

Northern Bear said the last two weeks of the year were affected by the Covid-19 crisis and that activity was low in April as most building sites shut down. From late May business picked up and activity is now about 75% of normal levels. Its order book has strengthened in the meantime, Northern Bear said.

Executive Chairman Steve Roberts said the company performed well during a year when the business faced unprecedented disruption from Brexit uncertainty, the December election, severe storms in spring and the Covid-19 pandemic.

"In light of the unprecedented set of circumstances which faced the group throughout the financial year, we are very pleased with the group's financial performance," Roberts said.

"Whilst those circumstances meant that the group could not generate the level of profitability which would ordinarily have been possible from its very strong opening order book, that order book has grown further which should lead to a sustained period of strong profitability now that a more normal level of operating activity appears to be in the process of returning."

Investors have told companies to think before paying dividends if they are taking government support or cutting workers' wages to strengthen their finances. TI Fluid Systems faced an outcry in May after proposing a dividend when it had furloughed workers and reduced pay for other employees.

Northern Bear shares fell sharply in early trading but were down 0.9% to 55p at 09:30 BST.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Northern Bear Market Data

Currency UK Pounds
Share Price 55.50p
Change Today 0.50p
% Change 0.91 %
52 Week High 64.00p
52 Week Low 50.50p
Volume 45,086
Shares Issued 19.02m
Market Cap £10.55m

Northern Bear Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
94.50% above the market average94.50% above the market average94.50% above the market average94.50% above the market average94.50% above the market average
95.56% above the sector average95.56% above the sector average95.56% above the sector average95.56% above the sector average95.56% above the sector average
Price Trend
7.85% below the market average7.85% below the market average7.85% below the market average7.85% below the market average7.85% below the market average
17.17% below the sector average17.17% below the sector average17.17% below the sector average17.17% below the sector average17.17% below the sector average
Income
60.64% above the market average60.64% above the market average60.64% above the market average60.64% above the market average60.64% above the market average
66.10% above the sector average66.10% above the sector average66.10% above the sector average66.10% above the sector average66.10% above the sector average
Growth
35.85% below the market average35.85% below the market average35.85% below the market average35.85% below the market average35.85% below the market average
34.78% below the sector average34.78% below the sector average34.78% below the sector average34.78% below the sector average34.78% below the sector average

Northern Bear Dividends

  Latest Previous
  Final Final
Ex-Div 29-Aug-24 22-Feb-24
Paid 25-Sep-24 15-Mar-24
Amount 2.00p 2.00p

Trades for 31-Oct-2024

Time Volume / Share Price
13:33 3,000 @ 54.00p
12:43 877 @ 56.55p
11:33 3,000 @ 54.75p
11:11 10,000 @ 55.90p
08:36 28,209 @ 53.20p

Northern Bear Key Personnel

Finance Director Tom Hayes
CEO John Davies

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