Northern Bear PLC – Preliminary results

Northern Bear PLC – Preliminary results

Highlights

  • Revenue from continuing operations £27.2m  (2010: £27.6m)
  • Operating profit (pre exceptional) from continuing operations £1.6m (2010: £1.7m)
  • Adjusted (pre exceptional) earnings per share from continuing operations 5.0p (2010: 5.0p)
  • Continued support of the bank as well as new funding streams for opportunities in the renewable energy sector

Howard Gold, Chairman of Northern Bear Plc commented:

"I believe that these results demonstrate the resilient nature of our businesses, as well as highlighting the Board's continuing work to review the core focus of the Group and to identify and dispose of non-core, or under-performing businesses, in a timely fashion.

Following the disposal of three non-core businesses during the previous financial year, we now have a more streamlined group of businesses, wholly focused on the support services sector.

The new financial year has started well and we currently enjoy an order book which is healthier than at any time over the past two years.

We believe that as a group of businesses, we are very well positioned to take advantage of opportunities as they arise, particularly in the renewable energy sector.

We look forward to reporting on progress on our newly formed renewables business in the coming months."

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