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Sorry just one small point - Northgate is a rental company not leasing - very different.
There was an article in the transport trade papers some weeks ago saying what Asda were planning to do. Stobart is a good contender for part of the contract, they won’t give it all to one company, and in reality there’s only 3 contenders.
Don’t forget ESL is an investment company investing in a logistics company with 49% shareholding, they are not managing the company.
We shall see??
As you will have seen I am not a fan of this organisation however it is likely to announce that it has won a major contract with Asda who are planning to outsource their logistics ie warehousing and transport fleet.
The debt will just increase, it will eventually tumble.
This a den of vipors
Northgate is the prominent company here - yet Redde is taking the lead etc etc.
Northgate has always been a good company with a few ups and downs.
For Northgate shareholders this is merger is a big minus, we’ve lost value and dividend!!
Simple - you would own 1% of a 49% stake in a shell company that owns 49% of the Stobart Logistics Business - very complicated. Wouldn’t touch it with a barge pole.
This company is hated and loathed by the logistic business within the UK.
Your call!!
I take it oûr madam chair lady is spending our dividénds??
49% of bugger all
Was it 4m on 800m turnover for 6months trading - I’ve said it before they are doing a lot of business for nothing - any of us can do loads of that any where in the world.
This is what happens when you grow so big in this business by undercutting everyone else.
I do hope your right because at the moment it’s a word I can’t print here!!
Good article - this what Northgate has done well at for decades with high utilisation on the rental - a good sound business. Redde is what? Nobody has heard of this business let alone what it’s doing - why is it now added to Northgate? The market does not understand and I certainly do not and more to the point it’s Redde management leading the business - disaster - we hear nothing from the CEO nor the Chairperson whose idea this was as she has previous experience with a Redde.
As a shareholder I am ****ed off with her - Northgate should go around £5 but is being dragged down by Redde.
Mrs Chair pull you finger out or are you looking for a big pay out like Stobart ???
Well - having read the accounts!! It’s all smoke and mirrors with a shell company thrown in for good measure. They clearly are moving and storing goods for nothing - busy fools.
Having worked in the industry for over 50 years - seen it all before and I certainly haven’t changed my mind - this will all end up in a heap. I wonder how what % of their business is with Tesco? Or Tesco related. Good luck you wiss kids - this ones not for me.
More like a reverse takeover - Northgate name disappearing. CEO is a Redde man that news nothing about Northgate and van hire.
This woman as chairman is a bad move - look what’s happened to Northgate investors capital - she’s clever and has a track record but has made a real **** up of this one.
Still believe Steve Smith should be chairman and have push into Europe with growth - but hey what do I know !M
Unsustainable - have said all along.
The numbers were fudged to spilt away from Stobart Plc and it’s bitten them in the arse and it will all end in tears.
Monkshood - I hope your right!? She’s not done much good so far. All know is she’s made some good personal money whilst moving companies! I remember when this share was £12/13 those were the days.
What the hell is happening hear?
Our new chair lady is seriously devaluing our investment - whose given her these instructions
Ricky 317 Thanks for your time and explanation - I have invested in Northgate for nearly 30 years, so understand the business well and van sales are cyclical but always bounce back.
What I garnet relished wad that Reede Plc was the chairman’s previous company!!
She was involved with Stobarts and Did a similar thing with Auto-logic - She left Stobart after a confrontation with Tinkler with Esther a large payoff.
Thanks