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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Northgate - Hire fleet grows to nearly 70,000 vehicles

February 2005

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
Another pre-results surge in the shares of van rental firm, Northgate, means that the gain on our original main recommendation in November 2002 at 399p has reached 112%. For the six months ending 31 October, Northgate produced forecast beating results, with turnover, including the now wholly owned Spanish company, Fualsa, increasing 19.3% to £223m, while pretax profit rose 23% to £27.8m and earnings were up nearly 16% to 29.1p. Net debt jumped to £410m from £271m a yearago, with the majority (£94m) coming from consolidating Fualsa's debt.  However, interest cover only fell fractionally from  3.8 to 3.7 times and in any case, Northgate has just negotiated a much larger borrowing facility of £565m.   No ...

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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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