Northgate

Northgate plc Period End 30 April 2009

Northgate plc Annual Report 2009

Impairments bite deep as goodwill in six businesses written off

Following a sudden and prolonged period of reduced vehicle utilisation and declines in the residual values of used vehicles, UK vehicle rental company Northgate recognises £181 million impairments of goodwill, intangibles and vehicle fleet, leading to a pre-tax loss for the year.


Treasury share reserve and retained earnings reduced to reflect fall in share price

UK vehicle rental company Northgate transfers £5.5 million out of its “own shares” reserve to in respect of a “market value adjustment”, reducing retained earnings by 11%.

Northgate plc Period End 30 April 2007

Northgate Annual Report 2007

Adjustments to prior year acquisition not reflected in comparatives 
Contrary to IFRS, UK vehicle rental company Northgate includes adjustments to prior year acquisition in current year movements.