Northern Bear profits stable as revenue rises

Northern Bear reported first-half revenue of £34m in its interim results on Friday, up from £30m year-on-year, as its adjusted operating profit remained flat at £1.5m.

The AIM-traded firm said its net bank debt at the end of the six months to 30 September totalled £1.9m.

During the period, the company settled the legal claim against Springs Roofing in July, and built a “strong” order book supportive of trading for the remainder of the financial year.

“We are pleased to announce solid operating results for the period despite significant inflationary headwinds,” said non-executive chairman Jeff Baryshnik.

“The group enjoys a strong order book, so we are well positioned for the remainder of the financial year.”

At 1004 GMT, shares in Northern Bear were up 8.44% at 49.34p.

Reporting by Josh White for Sharecast.com.