Newspaper article The Journal (Newcastle, England)

Bellway Shares Up by 12.17%; Stocks and Shares

Newspaper article The Journal (Newcastle, England)

Bellway Shares Up by 12.17%; Stocks and Shares

Article excerpt

Byline: Anthony Peart

IN THE regional portfolio, Northern Bear issued an update to the market and confirmed that trading for the period has been strong and pre-tax profit should be towards the top end of expectations.

Northern Bear is a building services business which provides central strategic and financial functions to a portfolio of companies.

The group confirmed that it has moved away from the cyclical new build housing sector which now accounts for less than 10% of turnover.

Northern Bear also added that it intends to grow the business and is currently looking at a number of options. Over the past year the group has made a number of successful acquisitions which include Jennings Roofing Ltd and Chirmarn Surveying Ltd and both have bedded in nicely.

Chairman Jon Pither said "During the period we have delivered on the targets we set, adding four cash generative businesses to our growing portfolio of Northern based building services companies, all of which have been successfully integrated and have contributed positively to the company's financial performance. …

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