Partner Article

Van firm accelerates into the black

VEHICLE hire group Northgate is looking to step up its presence in Spain after recovering from a loss to enjoy a 15.4% surge in profits.

The Darlington business has recovered from a pre-tax loss of £195.6m in the year to the end of April to record a £9.6m profit.

During the period the company reduced its fleet in the UK from 62,900 to 60,900 and in Spain from 60,400 to 48,900 and is now planning on developing its presence overseas.

Chairman Bob Mackenzie, Chairman, said: “Since the refinancing last year, we have met substantially all of our targets. Going forward, we will concentrate on doing simple things very well.

“We will complete the UK restructuring. We will develop further plans for Spain, which is already significantly more operationally efficient than the UK, and will continue to focus on margin.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .