Eddie Stobart Logistics PLC Half Year Trading Update (9035S)
June 28 2018 - 6:15AM
UK Regulatory
TIDMESL
RNS Number : 9035S
Eddie Stobart Logistics PLC
28 June 2018
28 June 2018
Eddie Stobart Logistics plc
("Eddie Stobart" or the "Company")
Half Year Trading Update
Eddie Stobart Logistics plc, a leading UK supply chain,
transport and logistics group provides the following trading update
for the six months to 31 May 2018. Group revenues for the period
were GBP357.7m a 25% increase on the comparable period for 2017.
This reflected strong organic growth from recent contract wins and
the contribution from acquisitions (iForce and Speedy Freight)
which continue to trade in line with expectations.
Both underlying EBITDA and EBITA have increased versus the
comparable period in 2017. Our performance, as in previous years,
will be weighted towards the second half of the year with the first
half absorbing the costs of implementing new contract wins (which
will flow through into second half), the impact of the
exceptionally poor weather and the reorganisation of our
warehousing division to accommodate increased demand from both
iForce and Eddie Stobart customers (the benefit of which will again
flow in the second half).
We continue to register strong levels of contract wins in all
our sectors and during the first half of this year have won new
contracts with an annualised value of circa GBP100m. We remain
confident of delivering full year results in line with market
expectations.
Enquiries:
Eddie Stobart Logistics plc Via FTI Consulting
Alex Laffey, Chief Executive
Officer
Damien Harte, Chief Financial
Officer
FTI Consulting LLP
Nick Hasell/Alex Le May/Matthew
O'Keefe
eddiestobart@fticonsulting.com
www.fticonsulting.com 020 3727 1340
Cenkos Securities (Nomad
and Joint Broker)
Nicholas Wells/Harry Hargreaves
www.cenkos.com 020 7397 8928
Berenberg (Joint Broker)
Chris Bowman/Toby Flaux/James
Brooks
eddiestobart@berenberg.com
www.berenberg.com 020 3207 7800
About Eddie Stobart
Eddie Stobart is a leading supply chain, transport and logistics
business providing industry-leading service to many of the UK's
best-known brands.
Founded in 1970 by Edward Stobart, the business is listed on the
London Stock Exchange's Alternative Investment Market (AIM) and
operates across a broad array of core sectors including e-commerce,
manufacturing, industrial & bulk, retail and consumer.
From its headquarters in Warrington, the business operates
circa.2,300 vehicles, c.4,000 trailers and 26 distribution centres
throughout the UK and Europe, providing its services to a range of
national and international customers.
Through Eddie Stobart's acquisitions, its network and scale has
grown. iForce (acquired in April 2017) has three owned distribution
centres and operates out of six customer sites and Speedy Freight
(acquired in July 2017) has 40 branches. Collectively, these sites
significantly expanded the scale of the Eddie Stobart network.
Further information about Eddie Stobart is available at:
http://eddiestobart.com/
Please click here to find information for investors:
http://eddiestobart.com/investor-relations/
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END
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