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Highlights
Northern Bear PLC (LSE:NTBR) is an FTSE AIM All share-listed, holding company that provides specialist building services. Based in the United Kingdom, the company offers its services to local authorities, NHS trusts, housing associations, universities, construction companies, and national housebuilders throughout Northern England. The company's segments include materials handling activities, roofing activities, and construction activities.
In the first half of FY24 (H1 FY24), the company reported an increase of 8.7% in revenue to GBP 36.9 mn as compared to the group revenue of GBP 34.0 mn in H1 FY23. The rise in revenue is attributed to the improved demand for the products and services along with price increase. Also, the operating profit improved by 20%, due to the implementation of various cost optimization strategies.
Further, the company’s Debt/ Equity ratio declined in the same reporting period (0.10x), compared to previous corresponding period (0.18x).
Recent business update
In its H1 FY24 result, the company reported net cash of GBP 0.40 mn as of 30 September 2023 as compared to the net bank debt of GBP 1.9 mn as of 30 September 2022.
On 15 March 2024, the company paid an interim dividend of GBX 2 per share, bringing the annualized dividend yield to approx. 3.40% as per the closing of the stock price on 24 April 2024.
Company outlook
As per the company, it has performed satisfactorily during H1 FY24 and could exceed the results achieved in the previous year if this performance persists. Currently, the board affirms that the group's performance aligns with market expectations.
Top 10 Shareholders
The combined shareholdings of the top 10 shareholders amount to approximately 57.57% of the total stake in the company. Nicholas Adrian Beaumont-Dark possesses the largest shareholding (26.37%), followed by Cedarvale Holdings Ltd. (11.88%), as illustrated in the chart below.
Price Performance
The stock price of NTBR has witnessed a rise of ~8.14% in the six months. The stock has a 52-week high and 52-week low of GBX 67.00 and GBX 41.15, respectively. It is currently trading above the average of 52-week high-low average.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 24 April 2024. The reference data in this report has been partly sourced from EODHD/Others.
