Commercial vehicle hire group Redde Northgate has launched a £30m share buyback programme.
The Darlington firm said it had agreed with stockbrokers Numis that it would buy up to 24 million ordinary shares which would be held in treasury.
In an update to investors, Redde said it already had a good merger and acquisition pipeline and that even after taking into consideration growth capital, dividend payments and the acquisitions, it had substantial headroom.
