Northern Bear profits stable as revenue rises
By Josh White
Date: Friday 25 Nov 2022
(Sharecast News) - Northern Bear reported first-half revenue of £34m in its interim results on Friday, up from £30m year-on-year, as its adjusted operating profit remained flat at £1.5m.
The AIM-traded firm said its net bank debt at the end of the six months to 30 September totalled £1.9m.
During the period, the company settled the legal claim against Springs Roofing in July, and built a "strong" order book supportive of trading for the remainder of the financial year.
"We are pleased to announce solid operating results for the period despite significant inflationary headwinds," said non-executive chairman Jeff Baryshnik.
"The group enjoys a strong order book, so we are well positioned for the remainder of the financial year."
At 1004 GMT, shares in Northern Bear were up 8.44% at 49.34p.
Reporting by Josh White for Sharecast.com.
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