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Northgate to focus on cost cuts

Van hire group Northgate will continue to focus on cost reductions due to tough ongoing economic conditions and said its forecast for full-year profit remained unchanged. Northgate, which rents out light commercial vehicles in Britain, Ireland and Spain, yesterday said hire revenue per rented vehicle improved in the UK. In Spain, underlying hire revenue per rented vehicle remained relatively stable for the four months to end February. The group said it would focus on hire rate improvement and cost cutting, and expected full-year pre-tax profit to be in line with a previous forecast of around £30m.