Redde Northgate: Low provide of vans will proceed in medium time period

Industrial automobile rental agency Redde Northgate says demand for vans remains to be outstripping provide, which helped push revenue up by a 3rd to £178.7m.

The enterprise upped its fleet to 130,000 automobiles, however mentioned that there was nonetheless a shortage of sunshine business automobiles, which embrace most sorts of van. This scarcity of provide has boosted residual values.

It added that the decrease provide will proceed within the medium time period.

Martin Ward, CEO of Redde Northgate, mentioned: “This is a wonderful set of outcomes and we’re happy with what the Group and all our colleagues have achieved this yr, delivering document income and income and powerful ranges of money era.

“Our built-in mobility platform has helped to drive progress and gives vital efficiencies for ourselves and clients. Automobile provide is bettering however stays under the excessive ranges of buyer demand; our monetary energy gives a capability to react shortly to produce alternatives as they come up.”

FTSE 100 set to tick decrease with knowledge from service sector in focus

London’s predominant inventory market is anticipated to proceed drifting decrease in opening commerce, with consideration turning to numbers out this morning from the dominant companies sector of the economic system.

The Buying Managers’ Index for final month, due out at 9.30 a.m. will play into expectations for the state of the UK economic system and the. outlook for inflation. It’s anticipated to level to an increase in exercise by coming in over 50, at 53.7, up from 55.2 final time. There may also be composite PMI knowledge for the entire of the economic system, anticipated to be 52.8, additionally displaying progress, however down from the 54 final time.

Related knowledge from European economies will come out thoughout the morning, including to buyers impressions on the outlook for progress.

US markets additionally return to the motion, having been closed for the Independence Day break on Tuesday. There are additionally minutes out tonight from the final rate of interest setting assembly from the Federal Reserve.

Within the meantime, the FTSE 100 is predicted to ease again by round 5 factors to 7514.

Yesterday’s prime tales

Good morning, here’s a choice of yesterday’s prime tales:

Right now, we’ll have outcomes from:

• AO World
• Topps Tiles
• Redde Northgate
• Quiz
• Supreme Plc