A very quiet week on the Stock Exchange for transport-related shares – ahead of City Link’s numbers tomorrow (15 March). All eyes will be on Rentokil’s parcels arm to see if it posts a full-year profit. But it hasn’t stopped a rather telling trend in the past week… Meanwhile, in keeping with the spirit of the FTSE hitting a five-year peak this week, our basket of transport shares continues to rise accordingly. At the end of January our basket of […]
Tesco is re-tendering its transport operation after the announcement it would close two DCs and move some of its warehouse operations in-house.
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”.
The basket of MT shares has only drifted northwards by 7p in the past seven days. But growth at the rate of a penny a day is a fair old shift for a traditionally quiet time of year in the road transport industry, indicating that there is a lot of sentiment backing the success of Britain’s transport firms.