But the company has issued three financial warnings in the last five months about its outstanding debts and is now in last-ditch rescue talks with possible lenders.
The next banking covenant test is due on April 30 and the Royal Bank of Scotland is one of the banks which white van hire company Northgate is in discussion with.

Speaking about renegotiating Northgate’s debt with the banks, Bob Contreras, Northgate finance director, said: "I would have thought there was exceptionally low risk. Most businesses that are talking to their banks are asking for new facilities. We are asking for a waiver.
"In a downturn, we generate cash. By letting us continue to run our business, we are reducing the banks' exposure."
He continued to state that with the bank’s cooperation the share price should rise from the current blended 4.5pc standing to 6pc or more.

The problems have come about for Northgate because the rental market for vans in England and Spain has slowed dramatically.
This led the company to axe 350 jobs at the end of last year. Further drastic measures to rescue the company and scale back £820 million worth of debt include reducing the size of their fleet of vans from 500,000 to 128,000.
Market analysts have now revised figures for Northgate’s yearly profits from £42 million down to £32 million (these are pre-tax figures).
After the warning Northgate shares stood at 42pc – a 39% slump in share price. Since Northgate revealed that it was in talks with banks, several directors have bought 200,000 of shares between them and forced the share price up by two and a quarter pence.