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Northern Bear positive despite weather-based disruption in second half

7th May 2024 11:51

(Alliance News) - Northern Bear PLC on Tuesday bemoaned England's wet weather, after heavy rainfall disrupted site activities in the second quarter.

The Newcastle, England-based building services firm noted there has been "significantly higher rainfall" than normal in the six months that ended March 31.

A total of nine named storms have "inevitably caused some disruption" to site activities, it said, consistent with the wider construction sector. This is despite strong trading over the period.

Subsequently, revenue and adjusted operating profit for the year are expected to be "broadly in line with market expectations", albeit at the lower end with regards to operating profit.

"The board considers this to be a very positive result in the circumstances," Northern Bear concluded.

It expects to publish its results for financial 2024 in the week starting July 15.

Northern Bear shares were trading 1.3% higher at 59.25 pence each in London on Tuesday morning.

By Holly Beveridge, Alliance News reporter

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