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02 Nov 2020 | 08:06

Northern Bear warns second lockdown heightens 'inherent uncertainty' in industry

(Sharecast News) - Building services firm Northern Bear warned on Monday that Downing Street's new four-week lockdown across England meant it would be required to navigate "widespread restrictions" over the coming months. Northern Bear said it had "a solid trading month" in September and now expects to report a small overall trading profit for the first half of the trading year.

The AIM-listed group also stated that its forward order book remained "strong" and should support its operating performance for the remainder of this trading year, subject to a continued ability to fulfil contracts on-site amid the new lockdown measures.

However, Northern Bear cautioned that the renewed restrictions put in place as a result of the second wave of Covid-19 infections had increased "inherent uncertainty" in its industry, impacting both its customer base and supply chain and were expected to remain headwinds to short-term trading.

"We will do everything possible to maintain our site activities, by ensuring the first-class safety procedures that our safety team have devised over this challenging period continue to remain fluid and in place in order to protect all of our workforce, customers, and members of the public," said the firm.

As of 1100 GMT, Northern Bear shares were down 4.57% at 50.10p.
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