Autologic is in talks with Stobart Group over a potential cash offer by the Cumbrian giant for the number one operator in UK automotive logistics. The Northampton-based operator, which revealed a turnover of £144.7m and a pre-tax profit of £2.1m for the year ending 31 December last month, says that there is “no certainty that an offer for the company will be made or proposed”. Stobart is required to either announce a firm intention to buy Autologic, or withdraw its […]
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 […]
Stobart Group kicked Monday off with a bang, winning a 15-year biomass contract with Western Bioenergy. But investors seem to have shrugged their shoulders at the news, which refused to budget the share price from 123p. Maybe we could find a bit more success elsewhere, as it has been a busy week for the MT Tracker sextet.
Stobart Group has made a “solid” start to its financial year despite a cold and wet June followed by the July heat wave causing volatility in its retail distribution business.