19th Sep 2013 07:31
LONDON (Alliance News) - Van-hire company Northgate PLC Thursday said vehicle hires have risen for its UK and Spain business during May and September.
In an interim management statement, the firm said UK vehicle hires have risen to 44,700 at September, from 43,100 at the end of April.
The increase includes growth of 500 vehicles from the four sites opened since February 2013, the firm said.
Northgate said it opened a new branch in Slough in July, while two branches in the London area are scheduled to open by December 31.
Underlying hire revenue per rented vehicle has increased by 1% compared to the last financial year.
In Spain, hires rose to 33,400 from 32,100 during the period, driven by increased seasonal demand.
Underlying hire revenue-per-rented-vehicle has been stable compared to the last financial year, the firm added.
Overall, the firm said trading is in line with expectations.
Northgate shares are trading up 6.5% Thursday at 421.75 pence.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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