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REDD Redde Northgate Plc

429.50
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
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
  0.00 0.00% 429.50 429.00 430.00 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Passenger Car Rental 1.49B 139.24M 0.6141 6.99 973.85M
Redde Northgate Plc is listed in the Passenger Car Rental sector of the London Stock Exchange with ticker REDD. The last closing price for Redde Northgate was 429.50p. Over the last year, Redde Northgate shares have traded in a share price range of 310.50p to 433.00p.

Redde Northgate currently has 226,741,545 shares in issue. The market capitalisation of Redde Northgate is £973.85 million. Redde Northgate has a price to earnings ratio (PE ratio) of 6.99.

Redde Northgate Share Discussion Threads

Showing 4501 to 4524 of 4900 messages
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DateSubjectAuthorDiscuss
07/7/2021
10:14
Zeus are saying it could beat £6 over time.

*Redde Northgate is a research only client of Zeus Capital Ltd.

johnhemming
07/7/2021
09:03
When weighted for existing shares in issue the underlying eps is 24.8p, so looks decent rating.
Edit: Apologies, for some reason this site has 307m shares in issue (which I used to get eps 24.8p) which should be 246m, so PE13 (not 16).
Only looked quickly but their £93m underlying PBT includes about £20m of amortisation of intangibles, so am I right in thinking for FY22 their merger integration and permanent FY22 savings (£20.5m) will in effect be netted off (assuming no further amortisation of intangibles) from this FY PBT.?

disc0dave45
07/7/2021
08:58
Well done Redde Northgate. It's been a bit of a rollercoaster but it is great to see the merger come together vindicating the directors.
blobby
07/7/2021
07:52
Fenners66 - yes a strong set of results and can see room for further growth and dividend increases as we go forward.
ttny2004
07/7/2021
07:30
Decent dividend increase , with some more growth and more full year impact of synergy savings (the added £5+m) could we see a jump in the future interim dividend as well?
fenners66
25/6/2021
10:36
He is actually a she fenner66, the spam on here annoys me too but this is very much at the better end of the sectrum. I can assure you Tomps2 isn't some kind of con artist and the content is very good, you can veiw it on Utube if don't trust their link hxxps://www.youtube.com/watch?v=_fd_m62IxTQ
3800
25/6/2021
09:09
Just get the podcast. They are very good
deanowls
25/6/2021
09:06
Well my research extends to seeing where he's posted, I'm not going to open the links.
fenners66
25/6/2021
09:03
fenners66 - I think Tomps2 founded PIWorld. He's posted links to companies covered in PIWorld/Stockpedia's stock slam on Wednesday.
zho
25/6/2021
08:58
Ignore the spam - he's changed the company name but posted the same article on loads of boards.

Someone needs to get the spam removed.

fenners66
25/6/2021
08:20
Jon McFarlane ‘slams’ Redde Northgate (REDD) in the latest PIWORLD/Stockopedia StockSlam at 9m40s

Watch the video here:

Or listen to the podcast here:

tomps2
22/6/2021
14:26
Nice break through 4 pounds. Great underlying NAV here.
deanowls
16/6/2021
21:57
In total 14,904,020. 9,216,782 shares and 5,687,238 through cfd's. Total value over £58M.
salchow
16/6/2021
17:09
I really wish they would put it into those kind of terms.
deanowls
16/6/2021
16:25
Looks like they've decreased their shareholding from 5.08% ---> 3.75% and taken a CFD position of 2.31% - net result 5.08% ----> 6.06%.

With the 3.75% = 9,216,782 shares.

??

skinny
16/6/2021
16:09
Anyone that can decipher that holding rns?
deanowls
26/5/2021
08:02
Zeus (tame broker) have a report out forecasting a growth in profit 2021/2/3

EPS figures

2021
Consensus 29.2
Zeus 29.9

2022
Consensus 34.2
Zeus 34.6

2023
Consensus 39.6
Zeus 43.4

Div PS figures

2021
Consensus 14
Zeus 15

2022
Consensus 17.2
Zeus 17.3

2023
Consensus 19.8
Zeus 21.7

johnhemming
12/5/2021
11:53
Shame it is an awful company to work for, and they don't look after or reward their employees.
bobwilson1
12/5/2021
10:48
brilliant update brilliant management
az4hr
12/5/2021
07:21
Board now expects underlying PBT for FY2021 to be moderately above the top end of the current range of analyst estimates[1] and not less than £92m


[1] Current range of analyst estimates for FY2021 underlying PBT £83.3m to £88.0m

fenners66
12/5/2021
07:20
I liked this bit:

"together with additional permanent cost savings achieved of £4.2m, the total annualised run rate is £18.8m, and is expected to be delivered at a one-off cash cost of £2.5m against an original estimate of £10m."

fenners66
12/5/2021
07:13
Yes, excellent results and sets up the new FY for a terrific start.
ttny2004
12/5/2021
07:11
Cracking update well done Redde
purplepelmets
12/5/2021
07:03
So much for the Calendar!!

.




Stronger than expected performance with PBT ahead of consensus; entering new financial year in a position of strength

Redde Northgate plc (LSE:REDD), the leading integrated mobility solutions platform providing services across the vehicle lifecycle, today announces a pre-close trading update for the year ended 30 April 2021, ahead of its results for the year scheduled for 7 July 2021.

Group trading

Further to the interim results announcement on 8 December 2020, momentum has continued to build across the Group in the second half of FY2021. Against the backdrop of COVID-19, including the most recent lockdowns in the UK, total closing VOH has grown 2% across the Group in the second half, comprising 4% growth in UK&I, with Spain broadly flat. Closing VOH is now higher than prior year by 13% in UK&I, 9% in Spain and 11% in the combined Group. The used vehicle market has remained strong in LCVs (particularly in the UK) delivering higher disposal profits than expected. Redde continued to be impacted by reduced volumes through the period, but post the easing of lockdown restrictions in early April, volume indicators are now showing a significant pick up.

Based on unaudited results, underlying revenues (excluding vehicle sales) were approximately 51% higher than the prior year, and total Group revenues (including vehicle sales) were approximately 43% higher than the prior year. The increase in revenues year on year is primarily attributable to the inclusion of Redde since the Merger on 21 February 2020, as well as LCV rental and sales growth.

As a consequence of the stronger than expected performance in H2, the Board now expects underlying PBT for FY2021 to be moderately above the top end of the current range of analyst estimates[1] and not less than £92m.

Focus, Drive and Broaden

The Group continues to make excellent progress on delivering its strategic initiatives through the Focus, Drive and Broaden framework. To date, it has achieved Merger integration savings of £14.6m against the FY2022 target of £15m. Together with additional permanent cost savings achieved of £4.2m, the total annualised run rate is £18.8m, and is expected to be delivered at a one-off cash cost of £2.5m against an original estimate of £10m.

Cash flow and financing

The Group's financial position remains strong, with continuing good cash flow generation in the period, closing the year with substantial headroom under its debt facilities. From this position of strength we have taken the opportunity post year-end to acquire c2,000 vehicles from a Scottish vehicle rental business for approximately £25m, bringing significant benefits from ongoing customer relationships, which we would look to further strengthen through our expanded Group offerings.

Outlook

With rental revenue and used LCV values supporting a strong closing position to the financial year and Redde volumes showing a strong rebound post lockdown restrictions easing in early April, the Board is confident that the strategy it set out at the time of the Merger will deliver the value it envisaged.

Commenting on the trading update, Martin Ward, CEO Redde Northgate said:

“The second half of the year has delivered a strong set of results. The demand for LCV rental and used LCV sales has seen an uplift in H2 and sets the business up well going into our new financial year. Traffic volumes and resultant mobility and repair incidents continued to be suppressed throughout H2 but early indications, post lockdown restrictions easing in early April, have shown a strong bounce back as daily routines in mobility resume.

“Our integration plans have almost delivered the revised targets we set out on cost savings, well ahead of time, and well below the one-time cash costs to implement. This has placed the business in a strong position as we face into a number of opportunities to deliver our unique integrated mobility platform proposition. However, I recognise there is still much more to do to deliver the full benefits of our strategy, and we remain focussed on our strategic initiatives.

“I am particularly thankful to our people who have worked tirelessly throughout the year to deliver exceptional service to our customers. Many of our colleagues have taken up the SAYE share scheme, launched this year, and it’s good to see they have the opportunity to share in the future success of the business. Our entry into the FTSE250 index in April was a milestone we are all proud to have achieved.

“We enter FY2022 from a position of strength, and we look forward to updating on progress as we continue to execute on our strategy. ”

Notice of Results

The Group is planning to announce its preliminary results on 7 July 2021 and publish its Annual Financial Report shortly thereafter.

skinny
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