Trading Update

RNS Number : 8238V

Northern Bear Plc

07 November 2017

 

7 November 2017

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 trading for the six months ended 30 September 2017 ("H1 FY18"). 

The Group's continuing operations have traded strongly over H1 FY18, together with 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, as a result of improved trading, profit before tax from continuing operations for H1 FY18, prior to the impact of exceptional items and amortisation costs, is expected to exceed both management expectations and excellent prior period results for the six months ended 30 September 2016 ("H1 FY17").  The corresponding period last year was considered a very strong set of results and hence we are delighted to be reporting a further improvement in trading performance.

The reported results will include exceptional, non-recurring transaction costs and amortisation of intangible assets associated with the acquisition of H Peel. The increase in trading profits compared to the corresponding period in H1 FY17 is expected to at least offset these costs in H1 FY18. 

The Group currently has a high level of committed orders and the Directors are positive about the outlook for trading in the second half of the year, subject to there being no exceptional adverse weather conditions over the period. 

More detail will be provided in the Group's interim results which are expected to be announced later in November 2017.

For further information, please contact:

Northern Bear PLC Steve Roberts - Executive Chairman Tom Hayes - Finance Director	[phone] [phone]
Strand Hanson Limited (Nominated Adviser and Broker) James Harris James Spinney James Bellman	[phone]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

**ENDS**

 

END

 

 

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