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, […]
Transport firms are riding the current Stock Market bubble. This week the FTSE 100 hit its highest level since October 2007 (6,755 on Monday to be precise). While none of the six operators in the MT Tracker basket of transport shares are anywhere near making the FTSE 100, or the FTSE 250 for that matter, the total value of the basket hit a record high today of 1,842.
Stobart Group has reported a busy Christmas in its transport and distribution businesses, as EBIT (earnings before interest and tax) for the final four months of 2013 grew.
The Unite union has threatened The Co-operative Group with nationwide industrial action over the transfer of 50-Midlands based drivers to Eddie Stobart.