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Annual Results

Northgate's FY pretax profit slips

27 June 2017 07:50

Northgate's FY pretax profit has slipped to £72.2m, from £77.6m, with total dividend coming in at 17.3p a share, from 16.0p.

"The performance of the UK business was, however, disappointing with profits impacted by a reduction in vehicles on hire over the second half of the year," said CEO Kevin Bradshaw.

"A full appraisal has been undertaken and several corrective actions have been implemented," he said.

"I am confident that these actions, combined with continued management focus, will drive a significant improvement in performance, particularly in the areas of sales lead generation and conversion."

Bradshaw said that, encouragingly, Northgate's businesses in Spain and Ireland continued to show good levels of growth.

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