Business Opportunities

Eddie Stobart drives back towards profit

“Wanting forward, we are assured that our renewed emphasis on our historic core capabilities as transport and logistics services provider for the FMCG and grocery sectors, and as a primary participant in e-commerce logistics and fulfilment, will allow us to travel successful advancement likely ahead.”

Mr Stobart, son of founder Eddie, retook manage of the haulier subsequent an accounting scandal last 12 months when £2m was unaccounted for.

The challenges led to an investigation above the auditors – KPMG and PwC – and observed shares in Eddie Stobart Logistics suspended.

A £55m rescue offer was agreed last December, which observed offshore personal equity firm Dbay Advisors acquire a 51pc stake in Eddie Stobart Logistics – putting in Mr Stobart as chairman to oversee the turnaround.

In the 6 months to May possibly 31 revenues fell one.1pc to £416.5m and fundamental pre-tax earnings – which exclude any a single-off fees –

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