Northbridge expecting results in line with expectations

STOKE-ON-TRENT-based industrial services and rental group, Northbridge, has said it expects annual results to be in line with expectations.

In a pre-close trading statement the firm said trading during the second half of 2013 had featured strong cash generation, resulting in a significant reduction in gearing, solid equipment sales and rental revenue and further direct investment into the hire fleet.
 
It said early indications were that the two acquisitions completed late in the year are integrating well and the group expected to see the benefit of these in the future.
 
Commenting on trading, Eric Hook, Northbridge CEO, said: “The acquisitions and investment into the group’s hire fleet have increased and strengthened our successful global business. We remain committed to our strategy of organic and acquisitive growth through continued investment into the hire fleet and by the acquisition of specialist, cash generative rental businesses. We remain optimistic of continued growth and are well positioned as the world economy continues to show signs of improvement.”

The group expects to announce its full year results on April 7.