30 May 2013 07:00
For immediate release | 30 May 2013 |
Northbridge Industrial Services Plc.
("Northbridge" or the "Group")
AGM Statement
Northbridge Industrial Services plc, the industrial services and rental company will today hold its AGM at 12 noon at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. Peter Harris, the Chairman of Northbridge will make the following statement on the Group's current trading and outlook.
As indicated at the time of our Preliminary results in April, the first quarter of 2013 started well with a number of large contracts continuing from last year. We have continued to invest in our hire fleets and with rental revenue and the resulting cash flow remaining strong, we expect net gearing to reduce by the end of June 2013. We are pleased with the Group's progress so far in 2013 and with good levels of continuing rental demand and product sales orders, we continue to be confident in the Group's prospects and expect results for 2013 as a whole to be in line with market expectations.
For further information
Northbridge Industrial Services plc 01283 531645
Eric Hook, Chief Executive Officer
Craig Robinson, Finance Director
Westhouse Securities Limited (Nominated Adviser and Broker) 020 7601 6100
Robert Finlay/ Antonio Bossi /Henry Willcocks
Buchanan 020 7466 5000
Charles Ryland / Clare Akhurst
www.buchanan.uk.com
About Northbridge:
Northbridge Industrial Services plc hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, India, Brazil, Korea and Azerbaijan, Northbridge has a global customer base. This includes utility companies, the oil and gas sector, shipping, construction and the public sector. The product range includes loadbanks, transformers, generators, compressors and oil tools. Northbridge was admitted to AIM in 2006 since when it has recorded increased earnings and dividends based on providing a high level of service, responsiveness and flexibility to customers. It has grown by acquisition of companies in the UK, Dubai, Azerbaijan, Australia and Belgium and through investing further in those acquired companies to make them more successful. Northbridge continues to seek suitable businesses for acquisition across the world.