Hargreaves Services’ transport division, Hargreaves Logistics, saw both turnover and operating profit increase in the first six months of the current financial year. Like-for-like turnover in the division grew from £40m to £49.5m, an interim management statement for the six months to 30 November 2013 have shown, which the operator put down to strong volumes in bulk dry work. Increased tanker and dry bulk business saw underlying operating profit jump by half to £3.1m, up from £2.1m last year. “We […]
Last week, Dart Group revealed a near to 13% pre-tax profit rise for its transport operation, Fowler Welch. Off the back of this, which saw profit climb from £3.9m to £4.4m for the year ended 31 March 2013 at Fowler Welch, its group share price has continued to move northwards, today leaping to £2.40, up from £2.14 last week.
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.
Are there signs of recovery? Well, if the MT basket of transport shares is anything to go by there has been a little bit of growth in the past month. But this doesn’t tell the full story for all of our big eight transport firms listed on the London Stock Exchange.