Northgate reintroduces dividend

Van rental company Northgate reported an 11 per cent increase in full-year profit as higher hire rates and a rise in used vehicle sales boosted its UK segment. The British company said underlying pretax profit rose to £59.7m for the year ended 30 April from £53.8m last year. Northgate’s board recommended the re-introduction of a dividend at 3p per share for the current year.