LONDON (ShareCast) - (Sharecast News) - AIM-listed building services provider Northern Bear saw profits soar in the first half of its trading year, boosted by a rather strong showing from its roofing and specialist services wing.
Northern Bear's pre-tax profits shot up 23% to £1.6m in the six months ended 30 September, while revenues improved 5.1% to £28.6m.

Gross margins improved to 19.7%, up from 18.4%, as a result of a more careful contract selection and execution process.

Earnings per share grew from 5.9p to 6.9p.

Chief executive Steve Roberts, said: "We have had a very successful first half to the financial year, with increased revenue, profit before tax and basic earnings per share."

"Overall, the outlook for the second half of the financial year is currently very good and we hope to report another strong set of full-year results."

Northern Bear cut its bank debt in half to £300,000.

As of 0920 GMT, Northern Bear shares had picked up 2.41% to 80.90p.

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