15th Apr 2010 07:00
Northern Bear PLC
("Northern Bear" or the "Company")
Year end trading update
The board of directors of Northern Bear (the "Board") is pleased to announce a trading update ahead of the publication of the preliminary results for the 12 months ended 31st March 2010.
Despite a challenging economic environment and adverse weather conditions we have been able to consolidate our position as one of the leading support service businesses in the North East of England, and expect our year end result (pre-exceptional and restructuring costs) to be at the higher end of market forecasts. As indicated at the time of our interim statement, there had been a significant reduction in Northern Bear's net debt position in the two months up to December 2009 together with a substantial improvement in working capital. We are delighted that these positive trends have continued throughout the second half of the financial year. In addition, we are seeing the early signs of increased activity amongst our businesses and look forward to the future with cautious optimism.
Ends
For further information please contact:
Graham Forrest
Northern Bear Plc +44 (0) 77 6469 3751
James Harris
James Spinney
Strand Hanson Limited +44 (0) 20 7409 3494
David Banks
Paul Jewell
Seymour Pierce +44 (0) 20 7107 8042
Adam Reynolds
Hansard Communications +44 (0) 20 7245-1100
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