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 […]
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 and AW Jenkinson Forestry Products have placed what Scania has described as its largest ever order in Europe: 2,000 trucks over two years.
Wincanton and Eddie Stobart merger a “logical” match, says CEO James Wroath as he unveils group’s half-year results
There is an “industrial logic” to Wincanton merging with Eddie Stobart Logistics (ESL), Wincanton’s new chief executive James Wroath told analysts at the launch of the group’s latest half-year results.