Eddie Stobart Logistics plc (“Eddie Stobart” or the “Company”)
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
www.eddiestobart.com
call via FTI Consulting
Cenkos Securities Plc (Nomad & Joint Broker)
Elizabeth Bowman / Jeremy Osler / Harry Hargreaves
www.cenkos.com
+44 (0)20 7397 8900
Berenberg (Joint broker)
Chris Bowman / Toby Flaux / James Brooks
eddiestobart@berenberg.com
www.berenberg.com
+44 (0)20 3207 7800
FTI Consulting
Nick Hasell / Alex Le May/ Matthew O’Keeffe
www.fticonsulting.com
+44 (0)20 3727 1340
