Eddie Stobart could be a private company again as soon as April, according to a circular sent to shareholders of its parent group. Stobart Group, which revealed plans for a partial realisation of its transport and distribution division last week, will hold a shareholder meeting on the 31 March in a bid to make its proposal reality. If shareholders support the proposal to sell a controlling stake in newly created holding company, Eddie Stobart Logistics (ESL), to Douglasbay Capital, the […]
Jonen Shipping has moved from Palletline to Eddie Stobart owned TPN.
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 […]
The combination of the £16m sale of its former automotive logistics division and securing a “significant” customer wins towards the end of its last financial year helped Eddie Stobart Logistics generate a £21m surplus, which was used to repay its debt.