Eddie Stobart Logistics – set to float on the Alternative Investment Market (AIM) next week 25 April – has conditionally agreed to acquire multi-channel retail logistics management group iForce for £45m. According to its admission document, the “acquisition will add a more focused e-commerce offering to Eddie Stobart’s existing business model”. In the financial year ending 3 July 2016, iForce Group generated a turnover of £56.3m and a pre-tax profit of £1.7m. This was up on a turnover of £50m […]
Last week, Dart Group revealed a near to 13% pre-tax profit rise for its transport operation, Fowler Welch. Off the back of this, which saw profit climb from £3.9m to £4.4m for the year ended 31 March 2013 at Fowler Welch, its group share price has continued to move northwards, today leaping to £2.40, up from £2.14 last week.
Last week the MT Tracker took a break as it was judging the MT Awards – but what a difference a week makes. Rentokil finally sold City Link, to investment house Better Capital. This does make a big difference to the MT Tracker as Rentokil’s size, in comparison to every other listed transport firm, was distorting the results of the Tracker. Excluding Rentokil gives us a much truer picture of investor sentiment in the sector.