Northern Bear Plc Trading Update (7094D)
February 02 2018 - 1:00AM
UK Regulatory
TIDMNTBR
RNS Number : 7094D
Northern Bear Plc
02 February 2018
2 February 2018
Northern Bear plc
("Northern Bear", the "Company", or, together with its
subsidiaries, the "Group")
Trading Update
The Board of Directors of Northern Bear is pleased to provide an
update on trading for the three month period ended 31 December
2017.
Following the publication of the Group's unaudited interim
results for the six months to 30 September 2017, the Group has
continued to trade strongly.
The Board is delighted to announce that the Group's turnover and
adjusted profit before income tax from continuing operations
(stated prior to the impact of transaction costs and the
amortisation of acquired intangibles, both associated with the
acquisition of H Peel & Sons (Holdings) Limited announced in
July 2017) are currently ahead of both management expectations and
excellent prior year results.
Outlook
The Group continues to have a high level of committed orders and
the Directors remain positive about the outlook for trading in the
remainder of the financial year ending 31 March 2018.
Despite poor weather in January 2018, and subject to there being
no exceptional adverse weather conditions over the remainder of the
winter period, we look forward to announcing another strong set of
results for the full financial year. The Board will update
shareholders further following the Group's financial year end.
Carillion plc liquidation
The Board notes the announcement made by Carillion plc on 15
January 2018, stating that it was entering into compulsory
liquidation with immediate effect.
Whilst the Group has occasionally traded with companies within
the Carillion plc group, there has been no material direct impact
on the Group's results arising from the liquidation.
As a Board, we are of the opinion that the full impact of the
liquidation on the wider industry in which the Group operates will
only become clear over the medium term. Should we become aware of
any material indirect impact on the Group's results we will, of
course, update shareholders further.
For further information, please contact:
Northern Bear PLC
Steve Roberts - Executive Chairman
Tom Hayes - Finance Director +44 (0) 166 182 0369
Strand Hanson Limited (Nominated Adviser and Broker)
James Harris
James Spinney
James Bellman +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 company news service from the London Stock Exchange
END
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