Knights of Old delivered a “strong financial performance” in the year ended 31 May 2016 despite challenging market conditions, according to its annual report. Group turnover increased by 2% to £49.4m (2015: £48.4m). The strongest contribution came from warehousing, which saw revenue increase more than 30% compared with a flat performance within the firm’s transport operations (up 1% year-on-year). Knights of Old’s directors said they remained interested in further acquisition opportunities having welcomed Nelson Distribution to its group last year, […]
Merger and acquisition deals in the UK logistics sector remain strong in the first half of 2021, despite the loss of 80,000 EU workers post-Brexit who were employed in the logistics sector.
Eddie Stobart Limited (ESL) slashed its losses by 77% in 2020 after exiting a number of “unprofitable” contracts, implementing cost cutting measures and applying a new accounting standard.
City Link and its former parent Better Capital are “morally, if not legally, responsible” for the financial difficulties that some of its creditors now face, a group of MPs looking into the collapse of the company have said.