Northern Bear's trading update comes honey coated

Northern Bear certainly does not have a sore head at the moment, as when the wraps come off the group’s latest annual results, they are likely to be rather good.

Northern Bear is a collection of Northern-based construction and building services groups. They decided that individually they lacked clout and so banded together two years ago to reach clients who are looking to place work with a contractor that offered more critical mass.

The group is quoted on the Stock Exchange.

In today’s trading update, Northern Bear says that both turnover and pre-tax profit in the 12-month period to 31 March 2008 is expected to be “at the upper end of market expectations”.

There is a hankering for further growth.

“There remains a wide pool of potential acquisitions which meet the company’s criteria,” says the group in its trading statement. “There continues to be ample opportunities to increase the size of the business in line with acquisition strategy.”

Northern Bear is running the rule over “a number of potential acquisitions”.

During the past year the four main deals have resulted in the acquisition of:

• Jennings Roofing – November 2007
• Hastie Burton – June 2007
• Chirmarn Surveying – May 2007
• Chirmarn Limited – May 2007 

In 2006, the five deals that year were for:

• Floor Joist
• Wensley Roofing
• Springs Roofing
• Roof Truss
• Isoler