Stobart Group has shaken off a tough start to the year by revealing a 7.2% improvement in the profitability of its transport operations, and a 13% leap in turnover driven by the addition of Autologic. For the 12 months ending 28 February 2013 turnover at Eddie Stobart rose to £517.1m, compared to £459.2m in the previous year. Operating profit in Stobart Group’s transport and distribution division increased from £27.7m to £29.7m. In January Stobart revealed it would close its chilled […]
20) Andrew Tinkler, chief executive, Stobart Group Tinkler strengthened his position at the top of Britain’s best known haulage firm at the beginning of 2013. He survived an attempted boardroom coup, that could have seen former Autologic boss Avril Palmer-Baunick take charge of the group as a whole, potentially breaking up its constituent, multi-modal parts. That came to nothing in the end and Tinker was able to calm the waters, as Palmer-Baunick left in May.
A lot has happened in the two weeks since the last MT Tracker, and today the government has revealed that it will begin selling shares in post and parcel operator Royal Mail within the next few weeks, adding another transport name to the companies listed on the London Stock Exchange.
Stobart Group has entered the savings market with a new six-year retail bond. The retail bond is aimed at small investors, and will yield a fixed-rate of 5.5% per annum, while providing Stobart with another funding stream. Well known retail brands names such as Tesco, John Lewis and National Grid already market bonds, which offer investors relatively attractive interest rates in exchange for tying up their money. Stobart bonds will available to buy and trade on the London Stock Exchange, […]