THE snow before Christmas will drag down Northern Bear’s profits, the building services company said today.
Northern Bear, which is based in Chester le Street and runs 13 businesses with more than 400 staff, said the severe weather in November and December hit trading.
Although things picked up in January, Northern Bear says the snow-related disruption meant that profits for the year to March 31 will be “below market expectations”.
It added: “Whilst March was a very positive month, the markedly improved environment has not been sufficient to enable the company to trade in line with market expectations.”
Northern Bear, which provides services ranging from roofing to asbestos removal and health and safety consultancy, made a £705,000 profit in the first half of its financial year and trimmed £1m off its debt, which stood at £9.1m.
