GOVERNMENT decision-making in recent weeks has delivered construction group Northern Bear a double boost, the company said yesterday, as it revealed a near 30% rise in half-year revenues.
The Chester-le-Street plc is targeting ongoing growth in the renewables market while also enjoying a resurgence in the housebuilding sector as order books return to their busiest level for several years.
The firm, which remains without a permanent replacement for former chief executive Graham Forrest who quit the business last month, operates 10 businesses in the North East.
It is understood the business is still considering its next move in terms of recruiting a new chief executive but the group insisted yesterday that personnel changes had not affected its current strong performance.
When Forrest stepped down from his post, there were concerns within the business that a £10m deal he had negotiated with investment fund Hazel Capital to enter the solar panel sector was at risk.
However, the company told The Journal yesterday that the relationship with Hazel Capital remains intact and, furthermore, it is eyeing new growth opportunities in the solar energy industry.
While the Government’s recent decision to halve solar power subsidies has left many businesses looking for a quick exit from the sector, Northern Bear is on track to take advantage of what is becoming a less competitive market.
