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Revenue and profit fall after turbulent year at Northern Bear
StockMarketWire.com
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Revenue and profit fell in building services company Northern Bears 2021 financial year, following what was described as a turbulent and challenging year.
Revenue fell to £49.2 million in the financial year ending 31 March, down from £54.4 million in 2020, while profit dipped to £1.4 million, down from the previous years £2.2 million.
Northern Bear executive chairman Steve Roberts said: This has been a turbulent year for all companies in our sectors.
Whilst we have obviously experienced severe difficulties within certain businesses within the group, others have performed exceptionally well, particularly in the second half of the financial year, given the backdrop against which they have had, and continue, to operate.
He said the Covid pandemic had made the year particularly challenging for the business, especially in the first half of the year, when the UK faced the most severe lockdown.
In addition, Roberts said, lengthy uncertainty surrounding Brexit made the year difficult, while Brexit continues to affect construction industry supply chains.
Despite ongoing Covid-related disruption, the groups second half of its 2021 financial year was slightly ahead of the corresponding period in 2020, which the chairman said was testament to the hard work and commitment of all our employees, and to the first-class safety procedures which our safety team have implemented, which have minimised on-site disruption during the pandemic.
At 2:26pm: (LON:NTBR) Northern Bear PLC share price was 0p at 49.5p
Story provided by StockMarketWire.com
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