March 14 (Reuters) - Van rental company Northgate Plc warned its business for the year ending April wastrading towards the lower end of market expectations as economicturmoil in Spain and difficult conditions in the UK meant thecompany rented out fewer vehicles.
The company, which began operations in 1981 and rents vansout to engineering, distribution and retail companies, saidvehicles on hire in its core UK market had fallen to 44,200units at Feb. 28 from 45,000 at the end of October.
Vehicles on hire in Spain also fell by 800 units from theend of October to 31,900 at Feb. 28.
The declines were still smaller than the same period lastyear when the company rented out nearly 4,000 fewer vehicles inthe UK and over 5,000 fewer vehicles in Spain.
Shares in the Darlington-based company, which operatesacross the UK, Spain and the Republic of Ireland, closed at 350pence on Wednesday on the London Stock Exchange. The stock hasgained 13 percent so far this year.
