Northern Bear Plc Trading Update (8415P)
15 Octubre 2019 - 1:00AM
UK Regulatory
TIDMNTBR
RNS Number : 8415P
Northern Bear Plc
15 October 2019
15 October 2019
Northern Bear plc
("Northern Bear" or the "Company")
Trading Update
The board of directors of Northern Bear plc (the "Board") is
pleased to provide an update on trading for the six month period
ended 30 September 2019 ("H1 FY20") for the Company and its
subsidiaries (together the "Group").
In the Company's preliminary results for the year ended 31 March
2019, announced on 15 July 2019, it was noted that the Group had
experienced a slow first financial quarter ended 30 June 2019
("Q1") due to a number of contract delays arising from matters
which were beyond our control. However, with such contracts having
commenced, trading was expected to be stronger in the second
quarter. We also stated at that time that we had a strong end to
the last financial year as our Roofing Division completed a number
of major contracts in March 2019 and we held a high level of
committed orders.
The Board is pleased to confirm that trading in the second
quarter ended 30 September 2019 ("Q2") has been much stronger than
Q1, and ahead of the corresponding period last year, with the
majority of the above mentioned new contracts having commenced and
I am pleased to report excellent results across the whole Group
since July.
When we reported the interim results for the six months to 30
September 2018 ("H1 FY19"), we stated that these results were
considered exceptional. Whilst we are greatly encouraged by
performance in Q2, the slower trading in Q1 will mean that reported
results for H1 FY20 will be below those for H1 FY19. The Board's
current expectation is that operating profit, stated before
amortisation and other adjustments (in the format used in our FY19
results), is expected to be in the range of GBP1.3m to GBP1.4m (H1
FY19: GBP1.7m).
This estimate is subject to finalisation of our unaudited
interim results for H1 FY20. The interim results will also include
adjustments for the first time adoption of IFRS 16 "Leases", which
requires operating leases to be recorded on the balance sheet with
right-of-use assets representing the right to use the underlying
asset and lease liabilities representing the obligation to make
lease payments.
The Group continues to hold a significant order book and we
expect the strong momentum in Q2 to continue into the second half
of the financial year. We consider the outlook for the current
financial year to remain positive, despite continued uncertainty in
the macro-economic environment, and are hopeful of reporting
another strong set of full year results.
The Group's unaudited interim results will be released on 25
November 2019.
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTUSOBRKBARAAA
(END) Dow Jones Newswires
October 15, 2019 02:00 ET (06:00 GMT)
Northern Bear (LSE:NTBR)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Northern Bear (LSE:NTBR)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024