Share Name Share Symbol Market Type Share ISIN Share Description
Northgate Plc LSE:NTG 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
  +0.00p +0.00% 334.00p 332.00p 336.50p - - - 0 08:00:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 745.5 60.4 38.6 8.7 445

Northgate Share Discussion Threads

Showing 476 to 499 of 500 messages
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Steady as she goes but with a little caution thrown in? Current Trading The Board is pleased to report the Company's overall financial performance in the year to date is in line with management expectations. However, given the current ongoing Brexit-related political and economic uncertainty in the UK, which could have an impact on various market sectors such as construction and retail, the Board believes it is right to remain cautious in its outlook. The Board remains convinced in the intrinsic value of Northgate's underlying strong market positions, and focused on the strategic opportunities to grow shareholder value.
Yes, I've had an order on the book to buy some for a little while now, so I actually picked up a few of them. However, it was a bigger than usual uncrossing(by Northgate's standards) at a price a good bit below the prevailing SP, so I idly wondered if I had missed something and had picked up a lemon. I normally take auctions with a pinch of salt but anomalous ones can be disconcerting. We'll see.
Was a UT trade, so I'd be inclined to ignore it.
Hmmmm. That dropped off the cliff there in the auction. Anyone heard anything negative recently? Cheers
Nice to see a fund topping up.
Last time we were this low, it preceded a nice rise to just under 450p. All blue buying on my screen....great results...a low price....dividend.....primed.
Maybe they should think about a share buyback which is one of the best ways to directly return value back for shareholders when share price is undervalued.
I agree, reasonable looking results. hxxps:// Just need to wait for the market to catch up.
Reasonable looking results this morning IMO:- Kevin Bradshaw, Chief Executive of Northgate, commented: "We continue to make good progress executing our rental strategy to address the compelling growth opportunity in our markets. "In the UK, our self-help turnaround programme is delivering. We have successfully introduced regular price increases during the year, and applied greater commercial focus to increase the efficiency of our operations. We turned a pricing corner in the second half of the year with our average hire rates returning to year-on-year growth after a three-year period of decline. Combined with our VOH(2) growth(3) driven by selective expansion of our minimum-term product, we delivered both rental income and average VOH growth(3) of 11.3% in 2019. Our disposal channel has also performed well, achieving firm sales prices for the vehicles we sell. "In Spain we continue to leverage the strength of our flexible hire business to provide a comprehensive range of fleet hire solutions to our customers. We are pursuing minimum-term growth opportunities with increasing selectivity as we take steps to protect the strong and attractive returns of the business against increasing price competition in the market. Lower disposal profits primarily reflect lower disposal volumes driven by the transition to longer holding periods following the previously announced strategic decision to increase the ageing of our fleet. "Steady state cash generation for the Group remains strong, and has enabled us to increase the dividend and fund attractive minimum-term growth opportunities. Our progressive dividend reflects the confidence of the Board in the future prospects of the Group. Through continued performance improvement in our core rental business and extending our penetration into complementary services to broaden the fleet solutions we provide, I am confident that our strategy will deliver our medium-term objectives of further profitable growth, strong cash generation and attractive returns for shareholders. "We are disappointed with the share price performance and remain focussed on addressing the undervaluation of the Group. The search for our new Chairman is well advanced with an exceptionally strong shortlist. The Board and management look forward to working alongside a new Chair appointment to maximise value for shareholders".
As a substantial stake holder what are you expecting from Northgate ?
new life
Wondering what is going on here,sp very disappointing
new life
Richard Bernstein @CrystalAmberRB1 We like to see management with "skin in the game." So it's disappointing that Northgate's CEO Kevin Bradshaw, who since joining in 2017, has been paid more than £1 million, has never purchased a share. Tangible book value is 420p. Share price is 327p. We're now stake building.
Soon to hit 450.00..
They still have the issue of smaller rental company’s also building up fast in to very worthy competitors of Northgate, going back 15 years Northgate lapped these up with acquisitions. Which is exactly what they need to start work on now in my opinion, I have mixed views on the results but will keep to myself for now. The rental market is very strong at this time, the disposal market is the strongest ever due to limited supply, which I personally think is due to brexit uncertainty and manufacturing not opening new production lines for right hand drive vehicles due to the uncertainty ahead, instead manuafactuers are working hard on left hand drive models. Hence very limited supply of used commercials, better reduials can’t spell that today no spell check. People interested in investing in rental, maybe should look for higher returns in smaller local rental company’s, all I hear is massive profits all round at the moment. Northgate should now be on the acquisition trail now or I fear will lose market share very fast.
Well done NTG Full year Highlights New strategy implemented during the year created strong momentum in our markets: · UK vehicles on hire (VOH) returned to growth, with organic year-end closing VOH 6.9% higher. · 3,400 further vehicles now acquired in the UK following a competitor entering administration. · Relaunched minimum term rental proposition, delivering strong growth in both Spain and UK · Step up in VOH in Spain drove 14.8% growth in rental revenue. · New fleet optimisation strategy implemented during final quarter, to improve future cash returns. · Refinancing agreed to extend majority of the Group's Revolving Credit Facility for one year and to increase the leverage covenant. · Final dividend 11.6p per share proposed (2017 11.6p) taking the total dividend payable for the year to 17.7p per share, an increase of 2.3% (2017: 17.3p). (1) Refer to GAAP Reconciliation and Glossary of terms note. Kevin Bradshaw, Chief Executive of Northgate, commented: "During the year we comprehensively overhauled Northgate's rental strategy to address the compelling growth opportunity in our markets, and we have made good progress implementing this, ending the year with real momentum in both our main territories. Our self-help turnaround programme in the UK started to deliver tangible results, with more competitive pricing, commercial agility and competitive new propositions reversing the previous decline in VOH, which ended the year 6.9% higher on a like-for-like basis than at the same time last year. We have now acquired more than 3,400 vehicles following a competitor's entry into administration, reinforcing our momentum in the market. In Spain, our rate of growth stepped up substantially as we used our leadership in flexible hire to launch new propositions into a wider range of target markets. This drove strong growth in VOH and rental revenue, and our market leading operations ensured that rental margins were maintained, as we deployed substantial additional capital to grow our fleet. In both Spain and the UK our profits from disposals were significantly lower, due to a range of legacy commercial and financial factors. We have now implemented a new fleet optimisation strategy across the group, that will extend vehicle holding periods, create a more efficient capital base and maximise shareholder value. In October 2017 we set out targets for our businesses, and we are now evolving these further, to reflect the material developments over the past six months, and to relate our targets more closely to our key financial indicators, including rental profit and cashflow. Our overarching medium-term objectives have not changed, which are to deliver strong revenue growth, expanded margins and attractive returns for shareholders, and we are encouraged by progress made to date." Outlook & Guidance UK The VOH growth delivered during the second half of FY2018 has continued into early FY2019, providing an encouraging start to the year. The market remains competitive and although there are indications of price pressure easing, significant cost pressures remain, including OEM price increases as well as investments to drive growth and improve our operating efficiency. In line with previous guidance, we expect mid-high single-digit organic VOH growth in FY2019 and, with the addition of the VOH impact of the vehicles we acquired, this is expected to drive strong rental revenue growth. Our continuing focus on driving growth, and the costs of our business transformation programme, are expected to lead to rental margins being broadly flat in FY2019. Rental profits are expected to grow significantly beyond FY2019, with VOH expected to continue to grow in line with previous guidance, and margins expanding due to operational leverage and efficiencies being delivered as a result of our transformation programme. From FY 2019 Ireland will be reported as part of the UK and this guidance includes Ireland. Spain The VOH growth delivered during the second half of FY2018 has continued into early FY2019, demonstrating the continuing momentum in the business. We are seeing some increasing price competition in the flex rental market, as well as continuing cost pressures including the cost of network expansion. In line with previous guidance, we expect double-digit VOH growth in FY2019, driving continuing strong rental revenue growth. Rental margins in FY2019 are expected to expand due to the positive impact of depreciation rate change previously guided. Beyond FY2019 further rental profit growth is expected, driven primarily by previously guided growth in VOH and operating leverage. Group Group operating profits in FY2019 will be impacted positively by the change in depreciation rates implemented with effect from 1 May 2018, partially offset by the remaining negative impact of previous rate changes, in line with previous guidance. Group rental profit is expected to grow strongly, driven by continuing VOH growth and expanding margins in Spain. As previously guided, due to the new fleet optimisation strategy introduced in the final quarter of FY2018, which will extend vehicle holding periods by 3-9 months, vehicle disposal profits across the Group in FY2019 are expected to be significantly lower than in FY2018. The interest charge in FY2019 will be higher due to the higher net debt and the higher margin charge this incurs. Beyond FY2019 we expect further rental profit growth, and higher disposal profits, as the process of fleet aging is completed and disposal volumes increase. ROCE in FY2019 will be impacted by the reduction in disposal profits, as the fleet is aged, and by strong growth in VOH, with capital employed increasing ahead of the profit from the growth vehicles. Capex and cash Flow The reduction in vehicle disposal volumes in FY 2019 due to the implementation of the fleet optimisation strategy will be reflected in Group net replacement capex, which is expected to be 25-35% lower than in FY2018. This will deliver an increase in EBITDA less net replacement capex in FY2019 of £50-£70 million. Organic growth capex in FY2019 is expected to be in the range £90-120 million, and to generate marginal returns substantially ahead of WACC. Beyond FY2019 growth capex will reflect the continuing strong VOH growth anticipated. Net Debt We plan to maintain our balance sheet within a target leverage range of 1.5 to 2.5 times net debt to EBITDA, and during periods of significant growth we would expect leverage to be towards the higher end of this range. This is consistent with our objective of maintaining a balance sheet that enables us to finance our growth plans, is efficient in terms of providing long term returns to shareholders, and safeguards the Group's financial position through economic cycles. This updates our previous the leverage guidance of 1.25 to 1.85 times net debt to EBITDA. GAAP reconciliation and glossary of terms Throughout this document we refer to underlying results and measures; the underlying measures allow management and other stakeholders to better compare the performance of the group between the current and prior period without the effects of one-off or non-operational items. Underlying measures exclude certain one-off items such as those arising from restructuring activities and recurring non-operational items. Specifically we refer to disposal profit. This is a non-GAAP measure used to describe the adjustment in depreciation charge made in the year for vehicles sold at an amount different to their net book value at the date of sale (net of attributable selling costs). A reconciliation of GAAP to Non-GAAP underlying measures and a glossary of terms used in this document are outlined below the financial review.
Yes still here unfortunatly still have some from there highs the information I have is all good I reduced as the graph turned negative but never expected them to get this low. Taking on T O M van hires vans and customers would be helpful and still expect to get back towards previous levels .
Good day today. No surprise in the announcement but I guess the market is pleased to have Northgate's plans confirmed in actual numbers.
Sam66 - Are you still holding NTG. Have recently over last 3 months bought in. Think good potential over coming couple of years.
Great results. Well done Northgate. With UK acquisition bedded down over coming quarters very strong UK growth should be expected. Spain still going strong.
in the old days ntg bought out smaller rental companys, not seen them do this for a while now, and smaller rental co's are now growing in to large rental co's who knows
Could ntg be a possible takeover target??
may get some nice trade up .
It was basically a profit warning however there is some hope of a turnaround here hence why the share price isn't down 25%. Tough one to call however I certainly wouldn't short this.
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