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REDD Redde Northgate Plc

-6.00 (-1.65%)
04 Dec 2023 - 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 Shares Traded Last Trade
  -6.00 -1.65% 357.00 850,698 16:35:14
Bid Price Offer Price High Price Low Price Open Price
357.00 358.00 364.50 357.00 364.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Passenger Car Rental 1.49B 139.24M 0.6075 5.88 819.44M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:53:36 O 4,449 357.00 GBX

Redde Northgate (REDD) Latest News

Redde Northgate (REDD) Discussions and Chat

Redde Northgate Forums and Chat

Date Time Title Posts
29/11/202313:24Redde plc - accident 'restoration' activities4,779
28/8/201611:13Is 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
2023-12-04 17:53:47357.004,44915,882.93O
2023-12-04 17:44:28361.9613.62O
2023-12-04 17:44:03360.36271976.57O
2023-12-04 17:44:02359.45621.57O
2023-12-04 17:37:33359.2117,00061,065.36O

Redde Northgate (REDD) Top Chat Posts

Top Posts
Posted at 04/12/2023 08:20 by Redde Northgate Daily Update
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 363p.
Redde Northgate currently has 229,213,852 shares in issue. The market capitalisation of Redde Northgate is £819,439,521.
Redde Northgate has a price to earnings ratio (PE ratio) of 5.88.
This morning REDD shares opened at 364p
Posted at 29/11/2023 09:47 by zho
Halfords down 21% on downgraded guidance for year to 3/24. Perhaps REDD shareholders dodged a bullet, at least in the short term.
Posted at 20/11/2023 04:17 by kinwah
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.
Posted at 19/11/2023 11:54 by boozey
Interesting that a few weeks ago REDD shareholders were buying stock in bulk and now this.
Posted at 19/11/2023 10:40 by disc0dave46
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.
Posted at 18/11/2023 21:26 by riverman77
HFD own a big network of garages and tyre centres which might be useful for REDD.
Posted at 18/11/2023 17:49 by schofi2
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.
Posted at 15/10/2023 16:25 by zho
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.
Posted at 03/10/2023 09:47 by dicktrade
actually £200,000 the RNS wasnt that clear but he made 2 purchases today totalling 62451 and the CFO bought 18774 too.
Posted at 19/7/2023 09:48 by skinny
Barclays cuts Redde Northgate price target to 500 (556) pence - 'overweight'
Posted at 16/3/2023 09:32 by fenners66
Anyone remember this discussion from last year?

7 Jul '22 - 08:38 - 4628 of 4690
"Maybe 1 billiion than the written down value on 100000 vehicles, which all could this extra profit could be released over the next 18 months with ease,"

7 Jul '22 - 15:58 - 4630 of 4690
"I’m not posting any more after this post"
"So I will 100 percent stick with my 1 billion of vehicle worth over write down value on 110000 vehicles thanks"

So nothing to worry about in the share price temporarily then as rental thinks there is a £bn profit hidden in there, despite the quotes I added from the accounts saying there was a lot of the uplift already accounted for and not forecasting forward a massive gain....

So will the share price suddenly leap up several pounds when all is revealed , or does the market know more ?
Redde Northgate share price data is direct from the London Stock Exchange

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