Revenues up during acquisitive year for Eddie Stobart Logistics

Eddie Stobart Logistics plc achieved revenue growth of 9.4% last year.

The Warrington-headquartered company generated sales of £623.9m in the 12 months to November 30 2017, up from £570.2m the year previous.

Profit before tax for the period dipped, falling from £11.2m in 2016 to £9.9m last year, while EBITDA grew 16.7% to £55.3m.

The period saw Eddie Stobart acquire several transport and logistics companies to broaden its groupwide capabilities, including iForce, Speedy Freight and Logistic People.

The company also managed to increase its warehouse storage capacity by around 17%, while slashing its net debt over the course of the year by £56m.

Alex Laffey, the firm’s chief executive, said of the results: “We have made good progress in implementing our strategy of becoming a leading provider of end-to-end supply chain solutions.

“This has been demonstrated by our performance over the past 12 months, especially within our two key growth sectors, manufacturing, industrial and bulk, and e-commerce.”

Alex added: “Overall we are pleased with our progress in 2017. The new financial year has started well and in line with the board’s expectations.”

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