Stobart Group has sold its automotive after-sales division, Stobart Vehicle Services, to Paragon Group for an undisclosed sum. The division, which was part of Autologic prior to its purchase by Stobart in August 2012, provides car manufacturers and dealerships with services ranging from new car preparation to customisation. As part of the deal Paragon will take on former Autologic sites in Corby, Portbury, Doncaster and five manufacturer locations and said it would be “welcoming 500 new staff”. The division will […]
Are there signs of recovery? Well, if the MT basket of transport shares is anything to go by there has been a little bit of growth in the past month. But this doesn’t tell the full story for all of our big eight transport firms listed on the London Stock Exchange.
Stobart Group reported an increase in turnover and profit in its transport and distribution unit in its final year as a fully-owned division of the business.
Tomorrow I will be speaking with Wincanton chief executive Eric Born as Britain’s second largest road transport operation (or is it?) reveals its latest annual accounts. The most important part is – can the company turn a profit and for much of the past 12 months it has promised “good progress” in its strategy to return to “sustainable profit growth”. Before then its been a week of scalping – shares in the transport tracker are either flat, or down, across […]