BUILDING services group Northern Bear plans to focus on the growth of its new solar power division and is expecting to reveal more details about its plans next month.
Chief executive Graham Forrest refused to reveal more details ahead of the AGM in September but said renewable energy would be at the forefront of the Chester-le-Street company’s plans.
Northern Bear, which runs 13 companies in the building services sector, started the Northern Bear Renewables division to fit solar panels for existing customers.
“It is one of the very few areas in our sector where there is any growth and where there is any Government support,” he said.
“We’ve been fairly good at making sure we are well-positioned for the renewables opportunities. We are very active in looking for opportunities – you’ve got to be.”
He was speaking after the company’s annual results showed flat sales and profits. Revenues fell slightly to £27.2m in the year to the end of March from £27.6m 12 months earlier. Operating profits slipped from £1.7m to £1.6m, while pre-tax profits before exceptionals showed a similar slump from £1.2m to £1.1m.
