Stobart Group has revealed it is abandoning its plan to launch a savings bond. In a statement to the City yesterday, the group said it had walked away from a plan revealed on 13 November that would have seen it launch a six-year retail bond with a fixed rate of 5.5% per year. The closing date for bond applications – the issue of which was being managed by investment bank Canaccord Genuity – was today (27 November). In a statement […]
CitySprint’s series of acquisitions over the past 18 months has seen its turnover top £100m for the first time, but the same-day courier is now targeting organic growth for 2013. Pre-tax profit rose 33.6% to £10.64m (2011: £7.9m) in the year to December 31 2012 as turnover increased 36.1% to £101.1m (2011: £74.3m). This is partly due to the fact that 2012 was the first full year in which the firm incorporated activities from the acquisition of Lewis Day in […]
City Link failed to turn a profit on Friday posting a pre-tax loss of £26.4m while turnover for the year was up 4.8% to £321.7m. Rentokil was disappointed and said the “financial performance in the year was behind our initial expectations”.
Eddie Stobart Logistics has confirmed it will list on the Alternative Investment Market (AIM) next week on 25 April at 8am, a move that will see former owner Stobart Group slash its holding in the haulier and pocket £113.1m.