Northern Bear shares edging gently higher, hitting 135p today

Mark Watson-Mitchell
15 minutes ago
1 min read

It was interesting to note that the shares of Northern Bear (LON:NTBR), the building services group, have been creeping higher over the last few days.

Just ten days ago they were down to 117p, on Monday, they closed at 126.50p, and today they have nudged 135p.

On Wednesday 19th November, the Northern-based group reported strong interim results for the six months to end-September, with revenue increasing to £49.4m (£37.6m), accompanied by a gross profit of £12.2m and an operating profit of £4.1m.

The company also saw a significant improvement in basic earnings per share to 21.9p from 8.4p, driven by robust trading and a £1.3m non-recurring operating profit.

Cash generated from operations rose to £3.1m, enabling the full repayment of a £1.45m term loan, and the company ended the period with a net cash position of £3.8m.

The company stated that despite anticipating flat market conditions and some business pressures, it maintains a stable forward order book and expects the group's full-year outcome to be broadly consistent with the previous year's strong underlying profit performance.

My View

This steady climb indicates ongoing investor interest despite tricky trading, my latest Target Price is a whisker away.