Dry winter a boost for Northern Bear's profits

NEWCASTLE building services company Northern Bear has seen a significant increase in revenues despite wider challenges to the construction industry.

- GRAEME WHITFIELD

The listed company has announced unaudited preliminary results for the year ending March 31 which show revenues rising from £68.7m to £78.1m. Over the same period, operating profit also rose, going from £2.4m a year earlier to £3.4m.

Northern Bear said the results were a “testament to the continued hard work and commitment of the group's employee base and came despite “ongoing macroeconomic challenges and their related impact on the construction industry.” The company said it had benefited from the dry winter period that allowed more building activity to take place.

It also highlighted the benefit of its strategy of maintaining a balance of private and public sector clients. It said that trading in its new financial year had started positively.