Business
Preliminary Results and Directorate Change
Preliminary Results and Directorate Change.
About this update from Northern Bear Plc
[{"type":"text","content":"\n \n \n RNS Number : 7330S\n Northern Bear Plc\n 13 July 2020\n \n \n \n \n \n \n \n 13 July 2020\n \n \n Northern Bear PLC\n \n \n (\"Northern Bear\" or the \"Company\")\n \n \n \n \n \n Preliminary results for the year ended 31 March 2020 and Directorate change\n \n \n \n \n \n The board of directors of Northern Bear (the \"Board\") is pleased to announce its unaudited preliminary results for the year ended 31 March 2020 for the Company and its subsidiaries (together, the \"Group\"). \n \n \n \n \n \n Financial summary\n \n \n · \n Revenue of £54.4m (2019: £56.6m)\n \n \n · \n Operating profit of £2.1m (2019: £3.3m)\n \n \n · \n Adjusted operating profit* of £2.2m (2019: £3.2m)\n \n \n · \n Adjusted operating profit* contributed by our trading subsidiaries of £3.1 million (2019: £4.3 million)\n \n \n · \n Basic earnings per share of 8.0p (2019: 14.0p)\n \n \n · \n Adjusted basic earnings per share* of 8.7p (2019: 13.5p) \n \n \n · \n Net cash position at year end of £0.2m (2019: net cash of £2.0m)\n \n \n · \n Results significantly affected by events outside the control of the Group\n \n \n · \n Very strong order book which has continued to grow throughout the year\n \n \n * stated prior to the impact of amortisation and transaction and other one-off costs\n \n \n \n Steve Roberts, Executive Chairman of Northern Bear, commented:\n \n \n \"In light of the unprecedented set of circumstances which faced the Group throughout the financial year, we are very pleased with the Group's financial performance. Whilst those circumstances meant that the Group could not generate the level of profitability which would ordinarily have been possible from its very strong opening order book, that order book has grown further which should lead to a sustained period of strong profitability now that a more normal level of operating activity appears to be in the process of returning.\"\n \n \n \n \n \n For further information contact:\n \n \n \n \n \n \n Northern Bear PLC\n \n \n Steve Roberts - Executive Chairman\n \n \n Tom Hayes - Finance Director\n \n \n \n \n \n \n \n +44 (0) 166 182 0369\n \n \n +44 (0) 166 182 0369\n \n \n \n \n \n \n \n \n \n Strand Hanson Limited (Nominated Adviser and Broker)\n \n \n James Harris\n \n \n James Bellman\n \n \n \n \n +44 (0) 20 7409 3494\n \n \n \n ...