Wednesday April 23, 2014


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PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Northern Bear: A mistake – time to sell

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- Tom Winnifrith

Northern Bear (NTBR), a UK building services group, is a most disappointing recommendation from my past. I first recommended the shares at 71.5p in December 2008 and though they have recovered a bit from lows of 8p earlier this year, they currently trade at 11.75p having been buffeted by fears about the company’s balance sheet and its operating environment. I can only apologise for what was a duff tip. In the following I take a renewed look at the investment case.

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