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 […]
Throughout the year, Motortransport.co.uk has bought you the biggest news in the road transport industry. Here we bring you the top 10 most read stories of 2012: 10. Stobart Group in for Autologic with £12.4m cash offer June saw Stobart make its offer for the car transporter firm, which valued Autologic at £12.4m. The deal made Stobart the largest car transporter haulier in the UK. 9. Hermes opens Coventry and Carlisle depots 2012 was a year of expansion for Hermes […]
Stobart Group saw turnover in its core transport and distribution division climb in the first half of its financial year despite “considerable demand volatility”, although profit was flat.
Stobart is still restructuring the former Innovate business it acquired out of administration in 2008 – a process that has been “more challenging, costly and further reaching than first planned”. The admission came as Stobart Group revealed profit rose 10% at its transport and distribution division (Eddie Stobart) to £14.2m in the first six months ended 31 August. This was despite a 5.6% fall in turnover to £251.1m. “We have improved our margins in [Eddie Stobart] through more effective financial […]