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REDD Redde Northgate Plc

429.50
0.00 (0.00%)
24 May 2024 - Closed
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 4776 to 4798 of 4900 messages
Chat Pages: 196  195  194  193  192  191  190  189  188  187  186  185  Older
DateSubjectAuthorDiscuss
29/11/2023
09:47
Halfords down 21% on downgraded guidance for year to 3/24. Perhaps REDD shareholders dodged a bullet, at least in the short term.
zho
20/11/2023
16:09
Why aren't they informing the market?, that applies to both parties.
disc0dave46
20/11/2023
10:26
Agreed RC the transformation in Halfords recently looks exciting and is looking more like a growth opportunity.
schofi2
20/11/2023
07:35
What you are missing is that Halfords is very much NOT the high street stores that are interesting, it is the garage work they do which is growing fast.
rcturner2
20/11/2023
04:17
I think REDD is vulnerable to a bid itself from private equity. I am sure costs can be stripped out and the Spanish operation sold to a motor manufacturer.
kinwah
19/11/2023
11:54
Interesting that a few weeks ago REDD shareholders were buying stock in bulk and now this.
boozey
19/11/2023
11:37
schofi
A nil-premium merger!!!!!
I've got big holding in both so it's a no from me unless it can be proved to be a big advantage to both.

As a holder in both a nil premium merger is likely to be a great outcome from your point of view - the potential efficiency savings and cross selling opportunites here by changing 2 into 1 look pretty clear to me.

rmillaree
19/11/2023
10:40
Hope it doesn't go through. HFD's margins are pitiful (3%) and has a weak balance sheet with £349m of net debt. Noticed they have delayed interim results by a week, now 29th Nov.Don't have a position in REDD and this may mean I never will.
disc0dave46
19/11/2023
08:23
I don't think this is a bad idea. There would be a lot of costs that could be stripped out (you don't need 2 head offices etc.) and Redde would presumably have van repair/MOT work that they could push to Halfords.

Plus Halfords is a very well known brand and may well help to get Redde's van hire side a higher profile.

rcturner2
18/11/2023
21:26
HFD own a big network of garages and tyre centres which might be useful for REDD.
riverman77
18/11/2023
21:17
Why would redde want to merge with halfords?!
russ1983
18/11/2023
18:01
Interesting - thanks.

My route here was as a holder of Helphire @5p and its been a pretty decent journey.

I've been a holder of HFD in the past and have always kept an eye on them.

skinny
18/11/2023
17:49
A nil-premium merger!!!!!
I've got big holding in both so it's a no from me unless it can be proved to be a big advantage to both.

schofi2
18/11/2023
17:49
Van rental outfit Redde Northgate has made a £1.4bn merger approach for the high street bike and car repair chain Halfords.

It is understood that the pair have held detailed talks about a possible tie-up after Redde Northgate, which owns 130,000 vans and corporate cars in the UK and Spain, made a firm proposal to Halfords.

A City source said Redde Northgate had proposed a nil-premium merger, but the discussions were abandoned because of disagreements over price. The Halfords board is thought to have concluded that any such deal on the terms laid out would have undervalued the company.

However, it is believed that Redde Northgate could mount a fresh bid if the valuation gap between the two sides closes. It is understood that the Takeover Panel was informed of the discussions, which took place in the last few months.

A source close to the negotiations said: “There were discussions about what an integration of the two businesses might look like but there were questions over the valuations of both companies.

“Both share prices weren’t doing fantastically well at the time so there is nothing live at the moment. However, it could come back.”
Founded in 1892, Halfords is one of the most recognisable and biggest names on the high street. It has roughly 12,000 employees, nearly 400 stores, and close to 650 garages providing full repairs, MOT’s and other services. Its annual turnover was £1.6bn last year.

At current values, a nil-premium merger would value the combined company at close to £1.4bn.

With its shares trading at 365p, Redde Northgate has a market cap of £843m. Halford’s shares were changing hands at 234p on Friday, giving it a stock market value of £512m.

Halfords’ share price is up 8pc this year, but 20pc over the last month. Shares in Redde Northgate have fallen 12pc since the beginning of 2023, but have climbed 13pc in the last four weeks.

For the time being, Halfords has its sights set on much smaller targets. The retailer is among the bidders for Wiggle, the online bike chain that collapsed into administration last month.

Redde Northgate was created during the pandemic when van rental specialist Northgate joined forces with Redde, formerly known as Helphire, which sorts accident claims from businesses and company fleets. It went on to snap up the remnants of vehicle repair provider Nationwide Accident Services.

The company’s customers were historically the smaller end of the market but it has added some large corporate clients including Royal Mail, as well as several government departments and local authorities.

Chief executive Martin Ward has said that its customers prefer vehicle rental over ownership because it provides “flexibility over the cost of owning vehicles”.

In recent years, growth at Halfords has increasingly been driven by its network of car garages, which are more profitable than selling bikes. Sales now represent 40pc of total group turnover compared with just 14pc five years ago.

The company’s stated aim is to become “a motoring services-focused business”. It experienced a boom in cycle sales during lockdown but that soon fizzled out.

Halfords used to be owned by pharmacy giant Boots before it was sold to private equity firm CVC in 2002. It returned to the stock market in 2004.

Redde Northgate and Halfords both declined to comment.

schofi2
17/11/2023
13:34
Pretty much at NAV.
deanowls
17/11/2023
10:34
I can see this being taken out by private money, way to cheap
swiss paul
15/10/2023
17:25
Well spotted.

Midas verdict: Ward and Vincent spent £260,000 of their own money buying shares last month. Their decision makes sense. At £3.17, Redde Northgate shares trade more like a stock in trouble than a business in growth mode. That is undeserved and should change as Ward takes the firm forward and investors gain confidence in his ability to deliver. In the meantime, Redde Northgate is offering a dividend yield of more than 7 per cent. Time to buy.

zho
15/10/2023
16:57
Tipped today in the Mail on Sunday
boozey
12/10/2023
17:34
very frustrating. hard to think of a trading reason except that the building and construction trades are big users of white vans and the news from that sector has been pretty poor over recent days.
eigthwonder
12/10/2023
17:22
I wonder why the drops over the past few months? Waiting for the 400p + mark. Will it happen?
sfreeston
03/10/2023
10:47
actually £200,000 the RNS wasnt that clear but he made 2 purchases today totalling 62451 and the CFO bought 18774 too.
dicktrade
03/10/2023
10:07
CEO bought £100k worth of shares today
harris tweed
02/10/2023
18:01
So why the 5% drop today?
deadly
Chat Pages: 196  195  194  193  192  191  190  189  188  187  186  185  Older

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