The company expects its additional investments to support revenue generation in the coming quarters. Credit: Shahril KHMD via Shutterstock.

Northern Bear, a specialist building and support services provider, has reported that its revenue and profits for the six months to 30 September 2024 (H1 FY25) exceeded expectations.

The company reported revenue of £37.6m ($47.85m), up from £36.9m in H1 FY24, driven by solid performance across the roofing, specialist building services, and materials handling divisions.

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Gross profit increased from £8.2m to £8.9m and gross margin improved 23.8%, reflecting the company’s strategic focus on higher-margin projects and careful contract management.

The fiscal period saw the company maintain ongoing investment in its operations to support long-term growth.

Operating profit saw a slight decrease from £1.8m to £1.7m due to investments in operations, but earnings per share increased from 6.7p to 8.4p.

Looking forward, the board confirms that Northern Bear is trading in line with market expectations and has the potential to exceed the strong results of the previous year in the second half of FY25.

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This outlook assumes stable market conditions and that the additional investment in operations will continue to meet revenue expectations without major weather-related disruptions.

The company’s forward order book remains strong, and a trading update is expected in the new year before the financial year-end.

Northern Bear nonexecutive chair Simon Carr said: “I am pleased to report that we remain in a strong financial position and have continued to make good progress against our medium-term objectives.

“This has been possible in the main by a combination of continued investment, organic growth and focus on cash generation, which has underpinned the results in the period.”