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. In an admission document published today, Eddie Stobart Logistics stated it would issue 357,918,800 ordinary shares of 1p each to be admitted comprising 276,668,800 existing ordinary shares as well as 81,250,000 new ordinary shares, issued at a price of £1.60. The […]
Following the themes of recent weeks the big winner in the Motor Transport tracker is Hargreaves Group – even if the performance of its transport group is slightly off target.
Stobart Group’s transport and distribution division, Eddie Stobart, saw revenue grow but profit fall in its most recent trading year, as it failed to cover increased costs through rate rises. For the 12 months ending 29 February turnover rose to £519.5m from £475.3m a year ago. However, pre-tax profit fell from £34.2m to £27.4m, due to cost increases of £4m “which have not been fully recovered through rate increases, mainly due to the increase in our customers’ costs”. Furthermore, £11.4m […]
Eddie Stobart Logistics returns to the stock market next month with a listing on the Alternative Investment Market (AIM) that will value the operator at more than half a billion pounds.