Redde Northgate Share Discussion Threads

[zho] 09/4/2021 20:11

REDD to replace KAZ in FTSE250 from next Wednesday

[fenners66] 06/4/2021 13:12

Indeed and well enough

[ttny2004] 06/4/2021 11:32

Been some nice steady share price increase here of late.Fenners- how you are doing? Assume same person from Ashtead late 90s group with Neil, Glenn, etc?

[fenners66] 23/3/2021 15:25

What happened there?

[zho] 18/3/2021 15:45

Yesterday and today are the two highest volume days since July.

[owenski] 17/3/2021 17:24

Volume's keen today

[johnhemming] 13/3/2021 08:30

>Convince me someone?
It is rather obviously legal. In the end, however, some companies buy in the shares others issue new shares. The value of shares to shareholders in those companies that buy in the shares is greater.

It is perhaps more of an issue as to having it very clear whether shares are bought in for options or not.

In the end, however, REDD has a book value of perhaps £3.58 so each share bought in adds to the total book value by about 50p. If the shares were at a higher value this calculation would be different.

[wbodger] 12/3/2021 21:39

Not only far better, but the only correct way. I'm not sure why issuing shares to pay bonuses is even legal. Convince me someone?

(If they have to buy in shares then Boards will be cautious about giving out bonuses like chocolates at Christmas.)

[flyfisher] 23/2/2021 12:36

Good to see the company buying in to honor the LTIP and future LTIP awards, far better than issuing more stock.
It implies that cash flow is good, so the dividend looks increasingly secure.

[tennis123] 21/2/2021 20:07

lifting of restrictions will yield substantially more income for the Redde business. A change from purchase to lease of vehicles will massively improve the balance sheet. Then a re-rating?

[tanneg] 02/1/2021 15:20

Featured as one of Stockopedia's Top 20 Stocks for 2021

[purplepelmets] 15/12/2020 00:31

and the rest, 300p for starters but still way too cheap

[shammytime] 14/12/2020 08:05

Looking good for a run to 300p by end of year

[greenhat2] 08/12/2020 19:40

Transition on course - in line with expectations and Hire side of the business above expectations. Wait until normal post lockdown traffic is here and Redde side of the business will come good. Will take a year bunt heading north of 400p IMO DYOR

[janhar] 08/12/2020 09:45

That's more like it - was worried I'd missed something!

[jam2day] 08/12/2020 08:32

Strange price reaction to positive update

[janhar] 08/12/2020 07:41

Martin Ward, CEO of Redde Northgate, commented:"Since our preliminary year end results announcement on 16 September 2020 we have continued to make excellent progress in delivering on our strategy to become the leading integrated mobility solutions provider. Our integration plan has now delivered synergies and permanent cost savings of GBP15.9m run rate savings to date and we fully expect to reach the increased targets we set out of GBP19m in year 2."We have also commenced the integration of FMG RS which broadens our service proposition and capabilities in repairs and, in October, building on Redde's expertise, we launched our accident and incident management product to Northgate customers. We have had a good early response to this and are confident it will be a source of revenue growth for the Group."I have been immensely proud of the way the team has stepped up to ensure we can operate as effectively as possible and deliver our services during these difficult times. COVID-19 continues to impact us all and we remain primarily focussed on ensuring a safe and effective work environment for our employees and safe contact with our customers who require our services. We can clearly see the impact of COVID-19 in this set of results, particularly in Redde where accident volumes were depressed in the first quarter. However, these have significant potential to increase when road traffic volumes and incidents revert back closer to historic norms. Meanwhile, the buoyancy in used vehicle markets, particularly in the UK, has led to higher disposal profits, and the Northgate businesses have also both benefitted from an increase in VOH since year-end such that VOH is now above pre-COVID levels. Recent regional lockdowns and the second national lockdown in the UK have highlighted the need for agility and we continue to keep cost and cash controls in place in order to monitor and manage the business closely. We currently do not expect the impact of these new lockdowns to be as severe as the original national lockdowns in April and May. We are confident on performance in FY2021 and our views on FY2022 will be determined by the exit run rate we see at the end of FY2021."Our cash position has remained strong in the first half with continued good steady state cash generation and free cash flow. We have made good progress with our new capital model for funding vehicles and now have over five hundred vans on contract hire, with substantial LCV contract hire credit lines agreed with lenders and now in place."I am confident that the actions and measures we are taking are already creating value which will be further enhanced as we continue to deliver on our strategic priorities."

[deanowls] 24/11/2020 16:57

I expect that they are paying increased rental rates tho which if passed on at a margin would increase the top line.

[greenhat2] 24/11/2020 14:22

REDD are degreasing the fleet Used van prices up 15-25% on last year which means a huge balance sheet uplift which isn't reflected on the last bs The next set of accounts will show the true picture - I.e. debt being paid down Still plenty of legs especially if it gets into the 250

[greenhat2] 24/11/2020 14:21

Who cares what the directors get paid We only care about the profitability of the company and share price

[flyfisher] 24/11/2020 12:33

This will explain how it works.

[flyfisher] 23/11/2020 21:02

Yes, there are several hurdles that must be overcome, along with different cut off dates.
Free float is earlier as it is does not change with the share price.

To get automatic entry one must be above 325th, below that they take as many as are needed to replace the evictions.