8th Jul 2026 10:17
(Alliance News) - Zigup PLC on Wednesday reported improved yearly results and lifted its dividend, with its progress in Spain a "standout".
The vehicle rental and management firm said pretax profit in the year to April 30 edged up 0.5% to GBP102.0 million from GBP101.5 million. Revenue climbed 2.6% to GBP1.86 billion from GBP1.81 billion.
The Darlington, England-based company formerly known as Redde Northgate said revenue from vehicle hire rose 9.8% to GBP749.9 million, though revenue from sales declined 14% to GBP222.6 million. Revenue from claims and services edged up 1.6% to GBP886.4 million.
"I am delighted with the progress made across our business," Chief Executive Officer Martin Ward said.
"Spain has had another standout period with its fleet at record levels, and the UK & Ireland business is gaining good momentum, with some notable success from the performance of our nationwide bodyshops and the long-term renewal of our National Highways contract for a further 10 years."
Zigup raised its final dividend by 3.4% to 18.2 pence per share from 17.6p. It results in a total dividend of 27.0p, up from 26.4p.
Looking ahead, the company said: "We are well positioned to deliver growth in line with market expectations for profit for the year, which take into account the cost savings identified from our UK&I simplification and are tracking well towards our target of generating in excess of GBP200 million in steady state cash in FY2028."
Zigup put adjusted pretax profit consensus for financial 2027 between GBP162.9 million and GBP170.0 million. In financial 2026, it achieved underlying pretax profit of GBP160.1 million, down 4.1% from GBP166.9 million.
Zigup shares fell 1.6% to 457.00 pence each in London on Wednesday morning.
By Eric Cunha, Alliance News news editor
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