Autologic says its acquisition of the assets of Sensible Transport will add £6m a year to its revenue, but warns that automotive customers remain “focused strongly on price”. For the year ending 31 December 2011, Autologic saw its UK revenue rise 4% to £114.5m (2010: £110.6m) but operating profit in its UK arm fell from £3.2m a year ago to £3.1m. It says that contract pricing in the automotive sector remains competitive, with customers focused strongly on price. The company […]
Trading in shares in Autologic will be suspended on 9 August as Stobart Holdings, a wholly-owned subsidiary of Stobart Group, completes its acquisition of the firm. On 18 June Stobart made an offer of £12.4m- the equivalent of 20p per share – for the automotive logistics firm. Both parties had been in talks since 24 May. Stobart said at the time it wished to acquire Autologic as it could enter the automotive logistics sector in a market-leading position. It is […]
BCA Marketplace, which owns WeBuyAnyCar.com, paid £16m in cash for Eddie Stobart’s automotive logistics business when it purchased it earlier this year.
Turnover at ECM (Vehicle Delivery Services) rose by £11m, but pre-tax profit dipped slightly, as the finished-vehicle automotive logistics specialist reaped the benefits of renewing several key contracts during the financial year.