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Northgate - New three year plan

August 2003

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • NTG
Van rental group, Northgate, has unveiled a new three year strategicplan, which together with a strong set of finals, suggests that the shares have plenty more mileage left. After completing theirinitial five year plan, which included a doubling of the vehiclefleet, a year early, the new target is to grow the fleet  from45,000 to 60,000 by 2006, as well as expanding its 40%-owned Spanishpartner, Fualsa's fleet from 12,000 to 18,000 vehicles.  The newplan also calls for an increase in higher margin non-rental products(no targets given) and double digit annual earnings growth. Forthe year to 30 April, turnover was up 21.6% to £338m, while pretaxprofit increased 15.5% to £36.6m, and earnings rose 15.6% to ...

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Related Articles

Northgate (February 2008)
Northgate (September 2007)
Northgate (February 2007)
Northgate - Earnings to increase 20% this year (August 2006)
Northgate (February 2006)
Northgate (December 2005)
Northgate (October 2005)
Northgate - Acquired Record Rent (August 2005)
Northgate (June 2005)
Northgate - Hire fleet grows to nearly 70,000 vehicles (February 2005)
Northgate - Analyst visit to Fualsa (December 2004)
Northgate (October 2004)
Northgate - Van rental firm growing strongly (September 2004)
Northgate - New eps forecast of 65p for 2006 (August 2004)
Northgate - Buys 100% of Fualsa (June 2004)
Northgate - Van rental group on track (December 2003)
Northgate - Van rental group a resilient performer (June 2003)
Northgate - Fleet utilisation still over 90% (February 2003)
Northgate (November 2002)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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