Northbridge Industrial Services (AIM:NBI) pre-close update reassures
The highly regarded industrial services and rental company issued a reassuring pre-close trading update for the year ended 31 December 2014, confirming notable equipment sales during 2014, strong cash generation and continued investment into the hire fleet. The outlook statement was also reassuring despite the evident oil price concerns.
Tasman Oil Tools, New Zealand the Group’s most recent acquisition which was acquired last year has now been fully integrated and is performing as expected.
Management stated that the fall in the price of oil has, so far, had a limited adverse impact on recent trading, although it is still too early to precisely quantify the long term effect on those parts of the Group directly servicing this sector. However, rental revenue visibility for…
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