Northgate FY15 Profit Climbs, Lifts Dividend; Names New Chairman - Quick Facts

(RTTNews) - Northgate Plc. (NTG.L), a specialist in light commercial vehicle hire, Tuesday reported that its fiscal 2015 profit before tax climbed to 83 million pounds from last year's 51.2 million pounds, reflecting continued growth in both the UK and Spain.

Basic earnings per share grew to 50.1 pence from 29.9 pence a year ago.

Underlying profit before tax was 85 million pounds, compared to 60.3 million pounds a year ago.

Revenue for the year increased to 614.3 million pounds from 571.5 million pounds last year.

Further, the Board proposed a final dividend of 10.2 pence, higher than last year's 6.8 pence. The total dividend relating to the year would be 14.5 Pence, a 45% increase from the prior year.

Looking ahead, the company said its Board remains confident to deliver further growth and attractive returns to shareholders and the Group is currently trading in line with expectations.

Separately, Northgate announced that Bob Mackenzie will be retiring from his role of Chairman at the company's AGM in September.

Andrew Page, who joined the Group as Senior Independent Director on 2 December 2014, and subject to re-election, will take over as Chairman following the AGM.

Jan Astrand will also retire from the Group at the AGM in September following 14 years of service. The Board is currently in the process of recruiting a new non-executive Director and will update in due course.