Eddie Stobart Logistics (ESL) may be forced to seek a new injection of capital to ease investor concerns over mounting debts, an equity analyst has told motortransport.co.uk The company shocked investors last week when it suspended trading in its shares and announced CEO Alex Laffey was to step down. It has since also been revealed that ESL made it difficult for auditor KPMG to obtain “sufficient audit evidence” as it tried to compile the company’s annual accounts. This prompted the accountancy […]
Share prices in the industry have not changed dramatically since last week. Most have seen a small increase in value, apart from Stobart, which saw its share value remain static.
Stobart Group has said the integration of Autologic into its Eddie Stobart division has been “seamless” with all assets and key personnel retained. Autologic was bought by Stobart in August, after an initial bid – valuing the company at £12.4m – was made for the company in June. The acquisition adds £144.7m of annual turnover and £2.1m of pre-tax profit to Eddie Stobart’s £519.5m of turnover and £27.4m of pre-tax profit. New deputy chief executive at Stobart Group, and former […]
Stobart Group has completed the partial divestment of its transport division.