Stobart Group has reported a “satisfactory” start to the year, despite low volumes from FMCG customers in its Eddie Stobart transport and distribution division. Its first quarter interim management statement today, covering the period from 1 March, the company said it expects volumes in the division to increase over the summer and expectations for the rest of the year “remain in line with forecast”. Tonnage in its Biomass division, as well as profit and turnover, was ahead of year-on-year expectations, […]
Stobart Group kicked Monday off with a bang, winning a 15-year biomass contract with Western Bioenergy. But investors seem to have shrugged their shoulders at the news, which refused to budget the share price from 123p. Maybe we could find a bit more success elsewhere, as it has been a busy week for the MT Tracker sextet.
Eddie Stobart has won a new deal with PepsiCo, taking over an operation previously run in-house.
The MT basket of transport shares continues to have a little wobble in September, but it is worth keeping in mind just how much share values of transport firms have risen in the nine months of the year so far – pointing towards a more sustained recovery in the sector.