Eddie Stobart advances despite Brexit worries

Logistics firm Eddie Stobart, famed for its green-liveried lorries, enjoyed a surge in turnover in the first half of this year, despite worries about how a no-deal Brexit might affect the movement of goods across UK borders.

Turnover increased to £359.3m in January to May this year, a rise of more than 25% compared with the same period in 2017. The firm recorded pre-tax profits of £1.4m, says Motor Transport, compared to a loss of £6.3m last year.

Growth came in four key areas:

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• Retail, where there was a 27.5% increase from £80m to £102m
• Industrial, bulk and manufacturing: up 13.2% from £81m to £92m
• E-commerce: up 118% from £37m to £80m
• Non sector-specific business: up 7% from £14.3m to £15.3m

Just one sector performed less well than last year. In the consumer division, turnover fell by 6% on 2017, largely because the firm lost its contract with soft drinks firm Britvic last year. It has since won back Britvic’s business.

Chief executive Alex Laffey said: “We are pleased to have delivered a strong first-half performance as we continue to implement our strategy of becoming a leading provider of end-to-end supply chain solutions.

“We have won new contracts with blue chip customers, adding an annualised £158m of new business. The recent acquisition of The Pallet Network further adds to the range of services we provide to our customers across the supply chain.”

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