Financial overview

Results for the period to 31 March 2007 show turnover of £4,751,000 and operating profit of £105,000 after goodwill amortisation of £148,000.

The business model of bringing mature, cash generative, profitable North East based building services businesses into a group has proved successful.

Our existing businesses continue to trade in line with expectations and our acquisition strategy is proving to be highly effective.

We are committed to progressively increasing earnings per share by selective acquisition and organic development. Growth for growth’s sake is not our objective.

It is encouraging that the gathering scale and momentum of Northern Bear is attracting more potential acquisitions of suitable size and performance. We expect the period ahead to be extremely busy.