Updates

Northgate

September 2007

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.

The recent weakness in shares in van rental firm Northgate looks unwarranted after the company issued an excellent set of final results. For the year ended 30 April, pretax profit increased 29% to £79.3m on turnover which rose 41% to £527m. Earnings increased 24% to 81.6p. This growth came in spite of higher net debt to finance recent acquisitions with gearing increasing from 204% to 290%. Helped by first time contributions from Arriva Vehicle Rental and Fleet Technique, the UK side saw turnover jump 17% to £351m with operating profit rising 22% to £71.7m. Overall, the UK market is in good shape with no sign of any price wars. Fleet utilisation increased 1% to 91% while hire rates were maintained. Used vehi ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Jarvis Securities - Eps forecasts raised 18%

Zetar - Organic growth running at 27%

Northgate (February 2008)

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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Northgate

September 2007

Related Articles