Fleet News

Northgate profits rise

LCV hire firm Northgate plc has released its interim results for the half-year to October 31, revealing a 2.4% increase in pre-tax profit to £28.3m (2004: £27.6m).

Group revenue increased by 5.9% to £176.9m (2004: £167.1m).

Northgate described the contribution from its Spanish associate Record Rent – with a fleet size of 20,000 vehicles - as ‘excellent’.

Martin Ballinger, chairman, said: ‘The board remains confident of a satisfactory outcome for the full financial year and further believes that its strategy will enable Northgate to retain its leading positions in commercial vehicle rental in both the UK and Spain and as a result continue to generate a growing return for shareholders.’

Northgate has a fleet of 52,400 vehicles in the UK.

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