COMPANIES Northgate, the UK and Spain's largest van hire company, warned that deteriorating economic conditions in both markets were likely to cut pre-tax profit by half for the year to April 30.
The shares, already at a 10-year low, sank a further 31¼p to 103p after a 46 per cent drop in pre-tax profit to £23.9m (£43.9m) for the six months to October 31. Revenue rose 11 per cent to £309.6m (£279m).
