Business
Trading Update,Contract Wins
Trading Update,Contract Wins.
About this update from Northern Bear Plc
[{"type":"text","content":"\n RNS Number : 6524A Northern Bear Plc 13 October 2009 \n \n13 October 2009\n\nNorthern Bear PLC\n(\"Northern Bear\" or the \"Company\")\nTrading Update, Contract Wins and Directorate Change\nThe board of directors of Northern Bear (the \"Board\") is pleased to announce a trading update ahead of the publication of the interim results for the six months ended 30 September 2009.\nTrading Update\nNorthern Bear has secured a number of new contract wins towards the end of the first half of the current financial year.\nJennings Roofing (\"Jennings\") has been awarded a contract worth in excess of £2.00 million for reroofing and associated works, by a significant housing association, based in the north west of England. These works are currently scheduled to be completed by 31 March 2010 and Jennings is hopeful of securing further opportunities with the same client in the future.\n\nJennings currently has committed orders for the period to March 2010 of approximately £4.50 million, which represents its strongest contract pipeline for two years.\n\nSprings Roofing Limited (\"Springs\") has been awarded a contract valued at £1.00 million in respect of reroofing and associated works via a consortium of social housing providers, with housing stock in the north east of England. This work is scheduled to be completed by 31 March 2010.\n\nMGM Limited has secured contracts valued at approximately £2.25 million, with work to commence within the next four weeks. The work includes fabric repair to 700 homes owned by a significant social housing provider based in the north east of England..\n\nHastie D Burton Limited has secured contracts valued at circa. £0.85 million, with work to commence immediately.\nThe new contracts described above, totalling in excess of £6.00 million, will contribute significantly to revenues and profitability during the second half of the financial year and the Directors therefore expect that results for the year to 31 March 2010 will be weighted accordingly.\nAs disclosed&nb...