BUILDING services group Northern Bear today reported flat sales and profits and but said the results showed the resilience of the business in tough times.
The Chester-le-Street company’s sales stood at £27.2m in the year to the end of March, compared to £27.6m 12 months earlier, with operating profits of £1.6m, down from £1.7m.
The group disposed of three businesses under the Northern Bear umbrella during the year as part of its efforts to streamline its focus on the building support services sector.
But it has also created two new ones: Northern Bear Building Services for maintenance and refurbishment and Northern Bear (Renewables) Limited to provide photovoltaic systems solar systems to existing clients.
Chairman Howard Gold said: “The new financial year has started well and we currently enjoy an order book which is healthier than at any time over the past two years.
“I believe that these results demonstrate the resilient nature of our businesses, as well as highlighting the board's continuing work to review the core focus of the group and to identify and dispose of non-core, or under-performing businesses, in a timely fashion.”
Northern Bear said the uncertain economic outlook was set to continue and the cuts in public spending has started to feed to through the system.
This combined with the difficult mortgage market and last winter’s “crippling weather” had made a “significant impact” on the results for the second half of the year, it said.
