Vehicle rental firm is driving ahead through the recession
Jul 8 2009 by Iain Laing, The Journal
AS D-Day approaches, when outstanding North East companies will discover how they now stand in the region’s latest Top 250 listing, no firm is looking forward to it more than Northgate plc.
Like most companies in the recession, the Darlington- based commercial vehicle rental company – Britain’s biggest – has had challenges to overcome.
It has just got through a 12-month period when its share price fell 75%. But Northgate responded and in March and April the price zoomed up again – by 237% – as City questions over its debt level eased.
Now, although Northgate is sponsoring the Top 250 for the second year running, it must wait until July 15, like the other businesses in the region, wondering if they have retained a prestigiously high position.
That’s because the chart, organised by The Journal, is compiled by Durham Business School and the composition remains secret until publication day. Northgate plc’s managing director Phil Moorhouse will be key speaker at a Top 250 presentation breakfast in Newcastle on July 15.
Top 250 rankings are decided on turnover levels. And what he does know already is that his group, listed 15th last year, has seen turnover grow amid its message to businesses that renting vehicles on a flexible, non-contract basis can be more cost effective than owning or leasing – allowing companies to grow or reduce their fleet when needed.
Mr Moorhouse says that, amid unprecedented change being felt now, organisations of the North East should support each other where possible. He urges: “Promote the region as a successful environment in which to do business.”
He believes the downturn is also giving businesses an opportunity to analyse their cost base.
If you would like to attend the presentation breakfast in association with the Top 250, at the Copthorne Hotel, Newcastle, on July 15, contact Debbie Nicholls on (0191) 201-6435, or debbie.nicholls@ncjmedia.co.uk
