24th Sep 2024 11:22
Zigup PLC - Darlington, England-based company offering a range of mobility solutions including vehicle rental and fleet management - Says new vehicle supply greatly improved in recent months and progressing with plans for fleet replacement. Expects greater supply opportunities to result in higher fleet capital expenditures this year. Says broader macro environments remain supportive, with supply chains normalising and inflation starting to ease, which is replacing vehicle repair and replacement hire time frames. It is opening two new locations in Spain and the UK & Ireland. The group remains confident in its long-term growth strategy and outlook for the year remains unchanged.
Broker Peel Hunt retains its pretax profit estimate of GBP162.3 million.
Zigup is due to release its interim results on December 4.
Current stock price: 379.00 pence, up 0.3% in London on Tuesday morning
12-month change: up 13%
By Emily Parsons, Alliance News reporter
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