Redde Northgate Share Price (REDD)

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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 Shares Traded Last Trade
  0.00 0.0% 424.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
424.50 425.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 1,109.50 93.22 31.00 13.7 1,303
Last Trade Time Trade Type Trade Size Trade Price Currency
17:53:54 O 73 422.465 GBX
Related Shares
Experian (EXPN), Ashtead (AHT), Billing Services (BILL), Mi-pay (MPAY)

Redde Northgate (REDD) Latest News

Redde Northgate News

Date Time Source Headline
13/7/202110:28ALNCRedde Northgate seals buy of electric vehicle charging equipment firm
13/7/202107:00RNSNONRedde Northgate PLC Acquisition of ChargedEV
08/7/202111:28UKREGRedde Northgate Plc Director/PDMR Shareholding
07/7/202111:58ALNCTRADING UPDATES: Redde Northgate lifts payout on surge in profit
07/7/202107:00UKREGRedde Northgate PLC Preliminary Results
16/6/202115:11UKREGRedde Northgate Plc Holding(s) in Company
12/5/202114:26ALNCTRADING UPDATES: Vertu Motors profit jumps; Mears swings to 2020 loss
12/5/202107:00UKREGRedde Northgate Plc Pre-close Trading Statement
09/4/202118:00UKREGFTSE Russell Kaz Minerals
09/4/202114:15UKREGRedde Northgate Plc Holding(s) in Company
More Redde Northgate News
Redde Northgate Investors    Redde Northgate Takeover Rumours

Redde Northgate (REDD) Discussions and Chat

Redde Northgate Forums and Chat

Date Time Title Posts
26/7/202110:41Redde plc - accident 'restoration' activities4,539
28/8/201612:13Is LGT the next REDD?9

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Redde Northgate (REDD) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
06:15:12422.4773308.40O
06:15:12424.503541,502.73O
06:15:12423.499,03338,253.85O
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Redde Northgate (REDD) Top Chat Posts

DateSubject
28/7/2021
09:20		Redde Northgate Daily Update: Redde Northgate Plc is listed in the Support Services sector of the London Stock Exchange with ticker REDD. The last closing price for Redde Northgate was 424.50p.
Redde Northgate Plc has a 4 week average price of 386p and a 12 week average price of 352p.
The 1 year high share price is 455p while the 1 year low share price is currently 160.20p.
There are currently 306,868,351 shares in issue and the average daily traded volume is 493,975 shares. The market capitalisation of Redde Northgate Plc is £1,302,656,150.
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14/7/2021
07:42		tonysss13: RARE ALERT: Redde Northgate said to ... - Part 2 Tuesday, 13 July 2021, 3:58 pm TDR Capital is said to be the private equity firm that has been circling Redde Northgate, the London-listed vehicle management company. People following the situation said that TDR Capital is rumoured to have approached Redde Northgate about buying the business for 475p a share. However, it's believed the approach may have been rebuffed because the company and some of the group's shareholders won't accept less than 500p a share. People following the situation said TDR Capital has been looking at combining Redde Northgate with BCA Marketplace, the owner of WeBuyAnyCar.com, the used car marketplace. TDR bought WeBuyAnyCar.com for £1.9 billion in 2019 as part a deal to take the company private. A spokespman for TDR declined to comment when contacted by Betaville. To be clear this story is RARE. If you are unfamiliar with the RARE definition I have pasted it below:
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13/7/2021
12:42		tonysss13: cause of spike RARE ALERT: Redde Northgate said to ... Tuesday, 13 July 2021, 10:44 am Redde Northgate, London-listed the vehicle rental and accident management company, is at the centre of intense takeover speculation. People following the situation said Redde Northgate has received an approach for the whole company. The approach is said to have come from a private equity firm, said people following the situation. However, it's not clear whether Redde Northgate's board is willing to accept the approach at the current level, said people following the situation. These people following the situation said It's thought the company and some shareholders may not be willing to accept less than 500p a share for Redde Northgate. Redde Northgate was created in 2019 from a share-for-share merger of Northgate and Redde. To be clear this story is RARE. If you are unfamiliar with the RARE definition I have pasted it below: hxxp://www.betaville.co.uk/betaville-intelligence/rare-alert-redde-northgate-said-to/
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09/7/2021
08:23		tomps2: Richard Leonard mentions Redde Northgate (REDD) in the latest PIWORLD Interview at 15m57s. Watch the video here: Https://www.piworld.co.uk/education-videos/a-piworld-interview-richard-leonard-what-hes-been-buying-july-2021/ Or listen to the podcast here: Https://piworld.podbean.com/e/a-piworld-interview-richard-leonard-what-he-s-been-buying-july-2021/
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25/6/2021
08:20		tomps2: Jon McFarlane ‘slams’ Redde Northgate (REDD) in the latest PIWORLD/Stockopedia StockSlam at 9m40s Watch the video here: Https://www.piworld.co.uk/education-videos/the-stockopedia-piworld-virtual-stockslam-june-2021/ Or listen to the podcast here: Https://piworld.podbean.com/e/the-stockopediapiworld-virtual-stockslam-june-2021/
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12/5/2021
07:03		skinny: So much for the Calendar!! Pre-close Trading Statement. 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.
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04/9/2020
07:02		skinny: Redde Northgate Plc Acquisition of business and assets. Acquisition of certain businesses and certain assets of Nationwide Accident Repair Services Significantly increasing our strategic and operational capability Redde Northgate plc (LSE:REDD), the integrated mobility solutions and automotive services provider, today announces the acquisition, by a wholly owned subsidiary, of certain businesses and certain assets of Nationwide Accident Repair Services ("Nationwide") by way of a purchase from administrators, for an initial cash consideration of up to GBP11m, plus a deferred consideration of up to GBP5m conditional on retention of certain trade business on satisfactory terms. The Group also provides a brief update on trading ahead of the preliminary announcement scheduled for 16 September 2020. Trading Since our pre-close trading update of 19 May 2020, and as restrictions relating to Covid-19 have eased, the Group has seen sequential monthly improvements in trading, such that the level of support packages provided to customers has now reduced to a minimal level, vehicles on hire have increased in all countries, accident and incident volumes have started to increase as traffic volumes pick up, and vehicle disposal channels have re-opened, with recent significant improvement in residual values compared to the prior year. Further, excellent progress has continued to be made in integrating Redde and Northgate since the merger. Given the improving trading environment and the continued close management of liquidity, cash inflows have been strong and the headroom on our bank facilities has increased from GBP234m at the end of April 2020 to GBP291m at the end of August 2020. Acquisition Nationwide is the UK's largest wholly owned repair network and the largest independent accident repair company in Europe. It is a strategic partner to many UK insurers, with whom, in several cases, Redde Northgate has existing relationships. Of the current 102 bodyshop sites, we will take up to 77 sites, providing the Group with national geographic coverage. Of these sites, there are a small number of freehold properties, and the remaining leasehold properties will be occupied under licence granted by the administrators and we will make a determination in due course whether to take leases on these sites based on whether we achieve satisfactory lease terms. The acquisition will see approximately GBP17m[1] of gross assets, including a fleet of mobile repair vans to service customers in their location, as well as approximately 2,300 of Nationwide staff, transfer to the purchasing subsidiary. The acquisition is expected to be earnings enhancing in the first full year of ownership as well as delivering a post-tax return on invested capital comfortably in excess of the Group's weighted average cost of capital. The acquisition, which will be funded from existing facilities, further reinforces the strength of Redde Northgate's proposition, extending the Group's existing capabilities in Service, Maintenance and Repair services. Before this transaction, in the UK, Redde Northgate did not have in-house capability for repairs, but has long considered building capability in the UK as the Group already successfully runs repair centres in Spain. This transaction offers the Group the opportunity to deliver on that goal quickly, with a strong team, well located sites and an existing flow of business, utilising surplus repair capacity with its own volumes. Commenting on the acquisition, Martin Ward, CEO of Redde Northgate, said "At the time of the Redde Northgate merger, we set out our vision to become the leading integrated mobility solutions provider. This acquisition, our first post-merger, is in line with that vision and significantly increases our strategic and operational capability to support a wider number of business partners requiring automotive repairs. We expect this acquisition will open up new markets to the Group, and in combination with an established pipeline of repair work from existing Group companies, such as FMG, it is well placed to maximise future opportunities. We welcome those Nationwide colleagues who will be joining the Redde Northgate Group and we look forward to creating new value and service offerings for all our stakeholders." For further information contact: Buchanan David Rydell/Jamie Hooper/Tilly Abraham +44 (0) 207 466 5000 Notes to Editors: Redde Northgate plc is a leading integrated mobility solutions platform formed in February 2020 following the all-share Merger of light commercial hire business Northgate plc and Redde plc, the provider of incident and accident management, legal and other mobility-related services. The Group provides mobility solutions and automotive services to a wide range of businesses and customers spanning the vehicle life cycle across vehicle supply, service, maintenance, repair, recovery, accident and incident management and disposal through sale or salvage. With an extensive network and diversified fleet of over 110,000 owned vehicles and over 400,000 managed vehicles in more than 100 branches across the UK, Ireland and Spain, the Group aims to utilise its scale, reach and comprehensive suite of integrated services to offer a market-leading customer proposition and drive enhanced returns for shareholders. Further information regarding Redde Northgate plc can be found on the Company's website: www.reddenorthgate.co.uk [1] Gross assets consist of properties, plant, machinery and stock. Value is an estimate and unaudited at this stage. END
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20/7/2020
14:24		rental: forget everything the most important thing to redd is the disposal prices and the current market and anyone in the trade knows prices for vans and cars have gone sky high. redd profits will be up by massive percentages from June 2020 onwards, all the way through next year, dealers that normally stock for example 100 vans are down to 6 vans in stock. a £10000 van is up in price by around 20 percent, Premium Car prices are through the roof too, a BMW M2 trade price £32000 selling through BCA for £44000. £4500 vans are up £2000 for £6500 U I would guess now alot of rentals have came back off hire then got sold at super high prices in June and now you cant buy a van anywhere so I would guess northgate side now running at 99 percent ulitisation, and as vehicles go off hire or swap for new vans northgate side making at least £2000 extra per van sold from june onward to continue next 12 months if northgate side sell and swap for new 50000 vehicles and make £2k over cap for each van then this will bring in 100 million extra profit, (not turnover) we should have been at a 400 share price anyways, this was dropped due to covid, but redd are winning over the norm proift due to van shortage, so we really should be at a share price of 550 - 600
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29/11/2019
12:20		martincc: Well it looks like the market is underwhelmed by this deal. NTG and REDD share price falling away. I agree pretty much with Owenski, nothing in this for REDD
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29/11/2019
07:16		trickyricky: Hmm, not sure what to make of this. NTG have too much debt for my liking?What impact will this announcement have on the REDD share price?
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29/11/2019
07:05		skinny: RECOMMENDED ALL-SHARE MERGER. RECOMMENDED ALL-SHARE MERGER of NORTHGATE PLC and REDDE PLC Summary · The Boards of Northgate plc ("Northgate") and Redde plc ("Redde") are pleased to announce that they have reached agreement on the terms of a recommended share-for-share merger of Northgate and Redde (the "Merger"). It is intended that the Merger will be implemented by means of a Court-sanctioned scheme of arrangement of Redde and the Redde Shareholders under Part 26 of the Companies Act, with the entire issued and to be issued share capital of Redde being acquired by Northgate. · The merged entity, to be called "Redde Northgate plc", will be a leading integrated mobility solutions platform with the scale, reach and resources to provide customers with a comprehensive suite of mobility services and the potential to deliver substantial benefits to shareholders, customers, employees and other stakeholders. · The Boards of Northgate and Redde believe that the Merger has compelling strategic logic and represents an attractive opportunity for both Northgate and Redde to enhance their proposition in the vehicle life-cycle and to deliver synergies, customer benefits and shareholder value. The Merger · Under the terms of the Merger, each Redde Shareholder will be entitled to receive: 0.3669 New Northgate Shares for each Redde Share · Immediately following Completion, Northgate Shareholders will own approximately 54 per cent. and Redde Shareholders will own approximately 46 per cent. of the share capital of the Combined Group (based on the fully diluted ordinary issued share capital of Northgate and the fully diluted share capital of Redde, in each case as at the date of this announcement).
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