28 Jun 2018 12:15
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 £357.7m 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 £100m. We remain confident of delivering full year results in line with market expectations.
Enquiries:
Eddie Stobart Logistics plc Alex Laffey, Chief Executive Officer Damien Harte, Chief Financial Officer
| Via FTI Consulting |
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/