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Northgate

February 2008

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
  • Price:
  • 712p
In spite of its weak share price performance, van rental firmNorthgate conjured forecast beating interims for the six months to 31October. Pretax profit rose 14% to £42.4m ahead of forecasts of £40.8m,while turnover increased 6.4% to £279m. Underlying eps rose 27% to47.1p. In the UK, turnover was flat at £170m, reflecting the fact that thefleet increased by only 500 vehicles to 65,800, as slower tradingconditions made Northgate more cautious. However operating marginsincreased from 21.2% to 22.6% which helped drive operating profit up 6%to £38.4m. The improved profitability not only reflected strong fleetutilisation rates of 91% and stable hire rates but also a stronger thanexpected second hand market for disposals. The latte ...

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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 - New three year plan (August 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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