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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Redde Northgate Plc | LSE:REDD | London | Ordinary Share | GB00B41H7391 | ORD 50P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-6.00 | -1.53% | 385.50 | 385.50 | 386.00 | 392.50 | 385.00 | 390.00 | 895,062 | 16:35:18 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Passenger Car Rental | 1.49B | 139.24M | 0.6141 | 6.29 | 875.22M |
TIDMNTG
RNS Number : 6163S
Northgate PLC
04 October 2017
4 October 2017 This announcement contains inside information
Northgate plc
Capital Markets Event
Northgate plc ("Northgate") will host a planned event for investors and analysts in London today. The event starts at 9.30am and will provide further detail on Northgate's strategy for delivering attractive returns to shareholders, together with clear KPIs and medium term objectives.
The event will be hosted by Kevin Bradshaw, CEO, and will include presentations by Frank Hayes, Managing Director - UK and Fernando Cogollos, Managing Director - Spain.
A copy of the presentation will be available from 9.30am GMT on our website: www.northgateplc.com.
Kevin Bradshaw commented:
"We have now concluded our strategic review of the business and today I look forward to taking the market through the significant opportunities to deliver shareholder value in both our core and adjacent markets. This will be driven through a combination of self-help and initiatives that will grow our market share in these markets."
Presentations will include the following targets in respect of the financial years ending 30 April 2018-2020.
Group Actual Target Target Target FY17 FY18 FY19 FY20 --------- ---------------- ------- --------------- ------- ------- Rental Average VoH -1.7% Mid to high single digit Growth (Q4 % growth per annum vs Q4 Prior Year) --------- ---------------- ------- --------------------------------- Marginal Substantially higher ROCE on New than Group WACC and Redeployed Capital --------- ---------------- ------- --------------------------------- Rental Margin 14.2% Minimum of 2% pts growth %* by FY20 --------- ---------------- ------- --------------------------------- Disposal Units Sold 33,800 High single digit % growth per annum --------- ---------------- ------- --------------------------------- Net Profit 976 Decline Broadly Flat per Unit (Depreciation (GBP) unwind) --------- ---------------- ------- --------------- ---------------- Group Corporate 1% Remaining flat to reducing Overhead/Sales over the period --------- ---------------- ------- --------------------------------- Group ROCE 10.5% Substantially higher than Group WACC --------- ---------------- ------- --------------------------------- UK Actual Target Target Target FY17 FY18 FY19 FY20 --------- -------------- ------- --------------- ----------- ---------- Rental Average VoH -7.5% Broadly Mid to high single Growth (Q4 flat digit % growth vs Q4 Prior pa Year) --------- -------------- ------- --------------- ----------------------- Rental Margin 13.5% Minimum of 2.5% pts growth %* by FY20 --------- -------------- ------- ---------------------------------------- Disposal Units Sold 20,400 Strong growth driven by VoH de-fleets, selective fast cycling and 3(rd) party stock --------- -------------- ------- ---------------------------------------- Net Profit 703 Decline Broadly Flat as per Unit (Depreciation increased retail (GBP) unwind) penetration offsets third party mix --------- -------------- ------- --------------- ----------------------- Spain Actual Target Target Target FY17 FY18 FY19 FY20 --------- -------------- ------- --------------- --------- -------- Rental Average VoH 4.4% >10% Continued double Growth (Q4 digit % growth vs Q4 Prior pa Year) --------- -------------- ------- --------------- ------------------- Rental Margin 15.8% Minimum of 1.5% pts growth %* by FY20 --------- -------------- ------- ------------------------------------ Disposal Units Sold 12,700 Strong growth driven by VoH de-fleets and selective fast cycling --------- -------------- ------- ------------------------------------ Net Profit 1,589 Decline Broadly Flat per Unit (Depreciation (Eur) unwind) --------- -------------- ------- --------------- -------------------
* Rental Margin % represents underlying operating profit (excluding disposals) divided by hire income (excluding costs passed through to customers).
No new current trading information will be disclosed during the Capital Markets Event.
For further information, please contact:
Northgate plc 01325 467558 Kevin Bradshaw, Chief Executive Officer David Tilston, Chief Financial Officer MHP Communications 020 3128 8100 / northgate@mhpc.com Andrew Jaques Barnaby Fry Simon Hockridge Ollie Hoare
Notes to Editors:
Northgate plc is the leading light commercial vehicle hire business in the UK, Ireland and Spain by fleet size and has been operating in the sector since 1981.
Northgate's core business is the hire of light commercial vehicles to businesses on a flexible or term basis, giving customers the ability to manage their vehicle fleet requirements in a way which can adapt to changing business needs without the requirement to enter into a long term commitment. Further information regarding Northgate plc can be found on the Company's website: www.northgateplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
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October 04, 2017 02:00 ET (06:00 GMT)
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