Northgate’s interims reassure this morning as improving market dynamics and strong residuals in Spain fully compensate for the anticipated pressures in the UK market. In the UK, average vehicles on hire were 0.6% lower than the prior year, impacted by a downturn in the energy sector, a planned reduction in National customer accounts and a targeted reduction in short term hires. This was partially offset by strong growth with SME customers. In Spain, average vehicles on hire were also lower (-1.4 ....
01 Dec 2015
Interims reassure as Spain compensates for UK pressures
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Interims reassure as Spain compensates for UK pressures
Redde Northgate PLC (REDD:LON) | 373 -5.6 (-0.4%) | Mkt Cap: 840.9m
- Published:
01 Dec 2015 -
Author:
James Tetley -
Pages:
3
Northgate’s interims reassure this morning as improving market dynamics and strong residuals in Spain fully compensate for the anticipated pressures in the UK market. In the UK, average vehicles on hire were 0.6% lower than the prior year, impacted by a downturn in the energy sector, a planned reduction in National customer accounts and a targeted reduction in short term hires. This was partially offset by strong growth with SME customers. In Spain, average vehicles on hire were also lower (-1.4 ....