Northgate on track to meet full-year expectations
Vehicle hire group Northgate said it was on track to meets its annual targets for the financial year to March 2016.
FTSE 250
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In a short statement released on Thursday, the FTSE 250 company said trading had been in line with expectations and it was making progress on its strategic plans.
"Plans are in place to ensure the business maximises opportunities over the remainder of the financial year," said group chairman Bob Mackenzie.
Analysts at N+1 Singer said the update should provide reassurance after a period of share price weakness.
“The shares have suffered as the market has digested the implications of recent depreciation policy changes and a soft close to the prior year for the UK business,” they said in a note.
“We expect the group to make good underlying progress over coming periods as market leader in an industry that is well primed for growth.”
Northgate shares were up 2.69% to 478.04p at 0819 BST on Thursday.