LONDON (ShareCast) - Shares in Northern Bear leapt nearly a third after the specialist building services group announced trading above hopes and plans to reinstate its dividend.

The stock jumped 8.75p or 28.9% to 39p at 14:35 in London as the Newcastle-upon-Tyne-based group said it was doing better than expected after a particularly strong second half that was helped by mild weather.

Northern Bear employs more than 300 people in general building work, asbestos removal, asbestos surveying, fire protection, roofing works, fork lift truck sales and hire and health and safety consultancy.

Orders were robust and were likely to remain so for the rest of the financial year to next March, it said.

"The strong pipeline of orders, coupled with a brighter outlook for both the national and local construction sectors, bodes well for our specialist building and support services businesses," it said in a trading update.

The group said it hoped to re-introduce a "modest" final dividend for last year.

Executive Chairman Steve Roberts said: "The last year has seen a marked improvement in the performance of our business.

"The group is now well placed to take advantage of opportunities as and when they arise both through organic growth and bolt-on acquisitions."

PW

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