Shares in road transport businesses continue to trade at record highs for the calendar year, despite a relatively quiet August and an oh-so-slight dip in the value of the MT basket of shares. News from the firms trading on the London Stock Exchange has, in the past seven days, amounted to diddly-squat. This month has seen UK Mail cement its strong performance opening a new depot in Middleton, Greater Manchester. As of today a share is worth 630p, compared to […]
Stobart is still restructuring the former Innovate business it acquired out of administration in 2008 – a process that has been “more challenging, costly and further reaching than first planned”. The admission came as Stobart Group revealed profit rose 10% at its transport and distribution division (Eddie Stobart) to £14.2m in the first six months ended 31 August. This was despite a 5.6% fall in turnover to £251.1m. “We have improved our margins in [Eddie Stobart] through more effective financial […]
NWF Group expects pre-tax profit for the six months ended 30 November to be greater than the same period in 2011, despite lower than expected performance in its food distribution arm. In its interim statement, the firm said its Boughey Distribution business performed “slightly behind expectations” as it did not take on as many new customers and receive as much business from existing customers as it expected, which it blamed on a “tough market environment”. NWF Fuels performed better than […]
Eddie Stobart Logistics has confirmed it will list on the Alternative Investment Market (AIM) next week on 25 April at 8am, a move that will see former owner Stobart Group slash its holding in the haulier and pocket £113.1m.