Stobart Group has shaken off a tough start to the year by revealing a 7.2% improvement in the profitability of its transport operations, and a 13% leap in turnover driven by the addition of Autologic. For the 12 months ending 28 February 2013 turnover at Eddie Stobart rose to £517.1m, compared to £459.2m in the previous year. Operating profit in Stobart Group’s transport and distribution division increased from £27.7m to £29.7m. In January Stobart revealed it would close its chilled […]
Last year Acumen Logistics Group gate-crashed the MT Top 100 for the first time, scant reward for a phenomenal performance over the past few years that has seen the company rise from an £8.2m turnover in 2009 to £20m in 2012.
Stobart Group’s transport and distribution division, Eddie Stobart, saw revenue grow but profit fall in its most recent trading year, as it failed to cover increased costs through rate rises. For the 12 months ending 29 February turnover rose to £519.5m from £475.3m a year ago. However, pre-tax profit fell from £34.2m to £27.4m, due to cost increases of £4m “which have not been fully recovered through rate increases, mainly due to the increase in our customers’ costs”. Furthermore, £11.4m […]
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 […]