Following the themes of recent weeks the big winner in the Motor Transport tracker is Hargreaves Group – even if the performance of its transport group is slightly off target. On Thursday 28 February Hargreaves Group published its interim results for the six months ended 30 November 2012. Within its overall performance it noted that transport turnover increased by £300,000 from £39.7m to £40m. However underlying operating profit decreased by £100,000 from £2.2m to £2.1m. Hargreaves noted that its tanker […]
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 […]
Wincanton has warned that a decline in customers’ volumes and a reduced demand for warehousing will “adversely affect” the business in the next 12 months. In a trading update issued today (Tuesday 3 April), the group says that while it has successfully retained and won new contracts across all sectors, market conditions in retail, FMCG and containers have been challenging. It adds that a number of its customers are seeing a decline in volumes, which is resulting in reduced demand […]
Eddie Stobart Logistics – set to float on the Alternative Investment Market (AIM) next week 25 April – has conditionally agreed to acquire multi-channel retail logistics management group iForce for £45m.