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
  2.00 0.74% 272.50 271.50 274.00 276.50 269.00 270.50 836,634 16:29:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 745.5 60.4 38.6 7.1 363

Northgate Share Discussion Threads

Showing 501 to 525 of 525 messages
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Share price down but Stockopedia show this as bullish. Anyone able to explain that to a new kid on the block?
Falling like a stone , shafted northgate Shareholders am out
Some big buys this morning: 10:26 - 03/01 Buy 75000 312.84p £234,633.00 11:06 - 03/01 Buy 15000 312.99p £46,948.50 11:45 - 03/01 Buy 14685 313.00p £45,964.05 Something happening, but what?
Clearly not in interest of standard shareholders and easy to see why Northgate head paid off and disappearing into the distance
new life
Maybe, but given the dismal share price over the last couple of years, various plans for business renovation, this lot have been well flagged as available for takeover / buyout. Nobody ever declared an interest, as far as we know, so they've set off chasing down another road. Still, might be an imminent change in uk govt/ macro encourages foreign interest to show up though, while pre merge.
I think CA will be happy. This is essentially putting Northgate up for sale. The Redde deal looks rubbish but not disastrously so. There is not even a compensation clause for Redde if the merger is called off because of an offer for NTG (as far as I can see). Now's the time for any possible buyers of NTG to show their hand or forever hold their peace. It could appeal to a financial buyer or a car manufacturer. Surely a cash offer in the range of 350p to 400p would work for someone. At £3 I'm tempted to average down. The worst that can happen is the Redde deal happens which would be ok in the short term.
Surely all ii would have been well informed if not active in the merge plan itself. E.g Hold a long equity position, but hedge it (CFD or such) - they won't be losing out in this, else we'd have heard a loud squawk by now.
No wonder interim poor too, been too busy lining their pockets at our expense. Surprised people like Crystal seem to have been bitten too
new life
Unlikely I'd say, such angles will have been covered long ago, buys made and hedges taken out.. New boss being ex-Redde, dunno, this move pongs a bit to me. And why call it 'Redde-Northgate'? Anyhoo, like we didn't know that uk market is a cesspit.
Could this be voted down,seems a dreadful decision for Northgate shareholders
new life
Over 11pc down today at 310p already on this strategic news, so seems big sellers plus dilution. Out at 330p for me, but interested to see how this pans out. Stobart?
They sure did. And the advisors get great cheques. Meanwhile NTG PIs get to wait around here another 2 years looking for proposed £10m in savings and efficiencies while mngt coin it 'making things work'. Tempting! And how often do such mergers run smoothly to plan? Nah. Too many unknowns now.
Seems Redde shareholders got the better of this arrangement, not strange they had lots of buys recently on the run up to the announcement-I wonder when/what constitutes insider dealing?
new life
The full 28 page report can be downloaded from here: hTTps:// if you have a subscription However a summary from here hTTps:// says: “An interesting time to invest in Northgate” says Zeus Capital We believe now is an interesting time to invest in Northgate, with a new executive board and a capable management team in place who have already delivered progress on an ongoing turnaround as we await a full strategic review. The group now has a clear and well communicated capital allocation strategy in place and improved earnings quality, in our view. We believe that the growth opportunity in the UK, the value of the Spanish business and the progress made to date with the turnaround are not being reflected in the share price, which is currently 15.9% below book value (414p per share in FY19A rising to 468p in FY22E). We use a variety of valuation methods including P/B, SOTP, DDM and DCF modelling and arrive at an average implied share price of 450p, 29.0% above the current share price. Investment case summary: Northgate is a clear market leader in its markets of UK & Ireland (c.25% share) and Spain (>40% share), enabling it to achieve strong margins and good returns across the group. The management team now have a clear and backable strategy to deliver growth in earnings across the group centred around defending the strong Spanish position while optimising and growing the UK business through investment in core systems and operational efficiencies. Management remain committed to a progressive dividend, paying a yield of 5.4% in 2020E based on our forecasts. Growth strategy: The group’s growth strategy is built around four key pillars being defend and grow share in flexible hire, selectively gain share in minimum term hire, broaden the provision of ‘capital light’ fleet solutions and optimise and increase participation in the disposals market. The group is well positioned in both the UK and Spain to execute this strategy, deliver uplifts in earnings and improve returns metrics from here. Forecast assumptions vs. consensus: Our forecasts sit 5-7% below current consensus. We take a more conservative view of UK volumes, and competitive pressure in Spain. On our conservative forecasts the group’s growth dynamics remain attractive, in our view. We expect adj. PBT in 2020E of £59.0m (vs £61.8 company consensus) going to £61.9m in 2021E (vs £65.4m). Net debt based on our assumptions in 2020E is £481.4m which is 1.8x FY20E EBITDA. Valuation: The shares are currently 15.9% below book value, which is unwarranted in our view. Based on our assumptions the shares trade on an EV/EBIT of 12.8x and a P/E of 9.8x in 2020E. We estimate the intrinsic value of the group to be 450p per share, based on our DCF, DDM, peer analysis and P/B multiple of 1.25x, which would imply a P/E of 12.7x and EV/EBIT of 14.6x on what we believe to be conservative FY20E estimates.
I’ve been looking at this as a yield play but debt is going up 45m over the next 12 months. It’s a no for me I’m afraid.
rock star
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
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