Northern Bear improves H1 pretax profit

Roofing and building materials company Northern Bear has turned in an improved first-half pretax profit of £1.1m, from £0.9m, that it said marked pleasing progress.

Net-bank debt had fallen to £2.0m at 30 September, down from £4.0m a year ago and from £2.5m in March. Basic earnings per share was 5.2p, from 4.2p.

Executive chairman Steve Roberts said he was pleased with the company's continued progress.

"The results for the six months ended 30 September 2016 represent a further improvement in performance, following excellent results in the previous two years," he added.

At about 11:08 GMT, shares in AIM-quoted Northern Bear were up 4.4% to 47.5p.