By Iain Gilbert
Date: Monday 25 Nov 2019
LONDON (ShareCast) - (Sharecast News) - Building services group Northern Bear saw both profits and revenues decline in the first following a "frustratingly slow" first quarter.
Contract delays weighed on Northern Bear's interim performance, dragging pre-tax profits down 25% to £1.6m as revenues dipped 2.8% to £28.6m. Earnings per share fell to 5.4p from 6.9p a year earlier.
However, Northern Bear said its second quarter was much stronger as the previously delayed contracts started within the period.
The AIM-listed company said it continued to hold a high level of committed orders but did note there was limited short-term visibility as to when the orders would be realised.
Chairman Steve Roberts said: "Following a frustratingly slow first financial quarter to 30 June, resulting from contract delays, we have experienced a much stronger second quarter to 30 September, with excellent results across the Group having been achieved since July.
"The group continues to hold a significant order book, and we consider the outlook for the second half of the current financial year to be positive."
As of 1040 GMT, Northern Bear shares had fallen 6.74% to 68.08p.
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Currency | UK Pounds |
Share Price | 61.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 64.00 |
52 Week Low | 44.50 |
Volume | 4,800 |
Shares Issued | 19.02m |
Market Cap | £11.70m |
Value |
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Price Trend |
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Income |
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Growth |
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Latest | Previous | |
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Final | Special | |
Ex-Div | 22-Feb-24 | 24-Aug-23 |
Paid | 15-Mar-24 | 15-Sep-23 |
Amount | 2.00p | 1.00p |
Time | Volume / Share Price |
12:40 | 4,800 @ 62.55p |
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