Newcastle’s Northern Bear plc celebrates ‘great set of results’ as profits rise 9%

Building services firm Northern Bear plc recorded profit growth against an uptick in revenues in its last financial year.

The Newcastle-headquartered company saw pre-tax profits rise around 9.1% to £2.6m in the 12 months to March 31 2018, up from £2.38m the year previous.

Revenues grew from £45.6m in 2016/17 to £53.6m, an increase of 17.5%.

The growth in sales follows Northern Bear’s acquisition of West Yorkshire-based interiors and fit out business H Peel & Sons (Holdings) Limited, snapped up in July 2017 for £2.4m.

Steve Roberts, executive chairman at Northern Bear, said: “I am delighted to be reporting on another great set of results.

“With a strong current order book, I am hopeful of another good year to come and would like to thank my fellow directors and the management teams and staff at all of our companies for the efforts they put into making the group such a success story.”

He added: “We are pleased to be back on the acquisition trail and will continue to look at opportunities as and when they arise.”