Eddie Stobart advances despite Brexit worries

Trucking firm wins new contracts worth £158m

180831-stobart.jpg
(Image credit: All Rights)

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:

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
  • 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.”

Take our survey for your chance to win £100 John Lewis vouchers

Continue reading for free

We hope you're enjoying The Week's refreshingly open-minded journalism.

Subscribed to The Week? Register your account with the same email as your subscription.