Vans firm to tighten up after terror attacks
Vans hire group Northgate on Tuesday promised to apply extra security measures proposed by authorities in the wake of London’s terror attacks.
Last week Metropolitan police commissioner Cressida Dick signalled van hire regulations could be reviewed after terror attacks at London Bridge and Finsbury Park.
The FTSE-250 business is working with trade body the British Vehicle Rental and Leasing Association to stay alert to the threat.
BCA revs up
Car dealer drives up revenues to £2 billion
Sales ranging from a £50 Toyota Starlet to a £150,000 Rolls-Royce Wraith helped boost performance at second-hand car dealer BCA Marketplace last year.
The firm, owner of WeBuyAnyCar, said annual revenues surged to £2 billion from £1.2 billion last year. Pre-tax profits rose to £56,4 million from £3.9 million. The full-year dividend is up to 6.75p from 6p.
“The group continues to cement its position as the leading partner of choice for all areas of the automotive market,” said executive chairman Avril Palmer-Baunack (pictured).
About a million cars have been bought through WeBuyAnyCar since it was founded 10 years ago. The average vehicle on the site is resold within 10 days of purchase. BCA, which stands for British Car Auctions, threw off more cash, nearly doubling the figure to £138 million.
“Northgate already has a series of checks and procedures in place, and is also collaborating with the industry association, particularly in light of recent events, and will implement any appropriate additional measures going forward,” it said.
The BVRLA last week warned members to double check credit card details, make sure their CCTV is working and report suspicious activity.
Northgate, founded 35 years ago, is the UK’s biggest commercial rental provider. The van used in the London bridge attack reportedly had Hertz and B&Q markings. The firm pledged to fix a profits slump of 7% to £72.2 million today by growing second-hand van business Van Monster.
New chief executive Kevin Bradshaw said: “This is a problem of execution.”
