Eddie Stobart Logistics PLC - Warrington-based logistics provider - Says it plans to transition to an investment company focused on investment in the logistics sector before the end of November. This comes amid the publication of results for financial 2019 ended November 30 which showed a pretax loss of GBP238.9 million, widened sharply from GBP22.3 million. Revenue was GBP857.5 million, up from GBP781.5 million. The widened loss was as a result of higher administrative expenses which totalled GBP373.3 million, up from GBP152.6 million the year prior. Exceptional costs were GBP200.2 million with GBP169.2 million relating to impairment charges. As at the end of November, net debt was GBP214.5 million.
Current stock price: 7.30 pence
Year-to-date change: down 39%
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.