12 May 2021 | 08:02am
StockMarketWire.com - Motoring services group Redde Northgate upgraded its annual profit guidance following a strong second-half sales performance.
Underlying pre-tax profit for the year through April was now expected to be 'moderately above' the top end of the current range of analyst estimates, and not less than £92 million.
Underlying revenue, excluding vehicle sales, had risen around 51% year-on-year, with total revenue including vehicle sales up 43%.
Redde Northgate said revenue was boosted by the inclusion of Redde since the merger in February last year.
'The second half of the year has delivered a strong set of results,' chief executive Martin Ward said.