Northern Bear Plc Trading Update (1812R)
June 13 2018 - 2:00AM
UK Regulatory
TIDMNTBR
RNS Number : 1812R
Northern Bear Plc
13 June 2018
13 June 2018
Northern Bear PLC
("Northern Bear", the "Company" or, together with its
subsidiaries, the "Group")
Trading Update
The board of directors of Northern Bear plc (the "Board") is
pleased to provide an update on its trading for the year ended 31
March 2018 ("FY2018").
Trading
The Group's continuing operations have continued to trade
strongly and ahead of management expectations over the second half
of the financial year, despite the severe winter weather,
particularly during the first three months of 2018. There has also
been a positive contribution to results from H Peel & Sons
Limited ("H Peel") following its acquisition on 25 July 2017.
The Board is delighted to announce that the unaudited
preliminary results will show both revenue and operating profit for
continuing operations for FY2018, both before and after the impact
of transaction costs and amortisation of acquired intangibles
associated with the H Peel acquisition, ahead of prior year
results.
The Group continues to hold a high level of committed orders
which provides optimism for another good set of results in the year
ending 31 March 2019.
Dividend
In view of the continued strong performance of the Group, the
Board is pleased to announce that it is planning to continue with a
progressive dividend policy in respect of the year ended 31 March
2018 (FY2017: 2.5p per share) subject to Shareholder approval.
Steve Roberts, Executive Chairman of Northern Bear,
commented:
"As a Board, we are again delighted to be reporting another
strong performance for the Group in the year ended 31 March
2018.
"I am pleased to report that H Peel has made a positive
contribution to results following its acquisition last year and is
trading in line with our expectations. We continue to believe that
H Peel will be a real asset to the Group.
"Our revolving and overdraft bank facilities provide us with the
resource to continue with our progressive dividend policy whilst
having the financial wherewithal to look at similar acquisitions
without the need to raise new equity.
For further information please contact:
Northern Bear Plc
Steve Roberts - Executive
Chairman +44 (0) 84 5680 2369
Tom Hayes - Finance
Director +44 (0) 84 5680 2369
Strand Hanson Limited
James Harris / James
Spinney +44 (0) 20 7409 3494
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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