UPDATE 1-Northgate warns on FY profits, covenants


* Conditions deteriorate in UK, Spain * Initiates talks with banks, lenders * Expects to write down value of assets LONDON, Feb 25 (Reuters) - Van hire company Northgate said on Wednesday full year profits would be significantly lower than market hopes and it had initiated talks with its banks as its covenants come under increasing pressure. Northgate said underlying pretax profit for the year to April 30 would be significantly lower than market expectations as trading conditions in ...

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