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Northern Bear fiscal H2 profit climbs 40.5% YOY

Northern Bear PLC said its normalized net income for the fiscal second half ended March 31 was 5 Great British pence per share, a gain of 40.8% from 4 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £899,380, a gain of 40.5% from £640,000 in the year-earlier period.

Total revenue grew 11.6% on an annual basis to £21.6 million from £19.4 million, and total operating expenses increased 10.9% on an annual basis to £20.1 million from £18.1 million.

Reported net income totaled £766,540, or 4 pence per share, compared to £766,560, or 4 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled 8 pence per share, a gain of 33.9% from 6 pence per share in the prior year.

Normalized net income was £1.5 million, an increase of 34.8% from £1.1 million in the prior year.

Full-year total revenue increased 13.4% year over year to £41.7 million from £36.8 million, and total operating expenses grew 12.9% on an annual basis to £39.0 million from £34.5 million.

The company said reported net income grew 12.7% on an annual basis to £1.5 million, or 8 pence per share, in the full year, from £1.3 million, or 8 pence per share.