Eddie Stobart Logistics’ growth continued at a gallop in the first six months to 31 May 2018, driven by a mix of acquisitions, new contract wins and retained business. Turnover increased by more than a quarter (25.3%) in the period to £359.3m (2017: £286.8m). The operator’s acquisitions continued to perform strongly – iForce sales increased 20% and Speedy Freight’s by 52% in the period – but organic growth was robust too. Eddie Stobart Logistics said it had seen strong growth […]
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.
Wincanton has said it doesn’t expect to be affected by the dispute between union Unite and Argos over the proposed transfer of almost 100 drivers despite managing the majority of the retailer’s transport operation.
Eddie Stobart Logistics saw its turnover and profit grow in its first full trading year under the majority ownership of private equity firm DouglasBay Capital, despite what it described as difficult trading conditions in its core markets.