Northern Bear (LON:NTBR) – after excellent results, setting a new 120p Target Price

18.07.2025

The building services group earlier this week announced a cracking set of results that seem to have been ignored by the market.

But then it is only capitalised at just £13.0m so it may well be below the screens of the majority of investors.

However, I am now taking the view that the company, through both strategic acquisitions and organic expansion, has massive potential to boost its market value and its prospects going forward.

To the end-March 2025 the group reported a 13.7% increase in group revenues to £78.11m (£68.68m), with a 42.76% improvement in its pre-tax profits to £3.05m (£2.14m), that generated earnings 76.8% better at 16.8p (9.5p) per share, and much more than amply covering the 2.5p (2.0p) dividend, plus the 1.0p special dividend.

My personal view is that the shares, now 95p, could well rise 50% and still look cheap.

Accordingly, despite only recently having put out a 110p Target Price aim, I am impressed by the little group’s financials, and I am now putting out a new very easily achievable Target Price of 120p for the shares.

(Profile 11.07.25 @ 89.50p set a Target Price of 110p)

(Profile 18.07.25 @ 95p set a Target Price of 120p)