Northern Bear trades well despite 'significantly higher rainfall than normal' in H2
By Iain Gilbert
Date: Tuesday 07 May 2024
(Sharecast News) - Building and support services business Northern Bear said on Tuesday that it has continued to trade well over the six months ended 31 March despite a "significantly higher rainfall than normal" during the period.
Northern Bear said rainfall in the North East of England was at 153% of Environment Agency statistics' long-term average during the half, with a total of nine named storms, causing "some disruption" to the group's site activities, consistent with the wider construction sector.
As a result, revenue and adjusted operating profits were now expected to be broadly in line with market expectations, albeit at the lower end with regard to operating profit.
"The board considers this to be a very positive result in the circumstances," added the AIM-listed group.
As of 1245 BST, Northern Bear shares were up 1.03% at 59.10p.
Reporting by Iain Gilbert at Sharecast.com
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10 Lower Thames St,
London EC3R 6EN