Tuesday 25th Oct 2016 - Logistics Manager

Stobart counts the cost of white Christmas

Bad weather in the weeks leading up to Christmas cost Stobart Group £1.5m, however the group said it expected to meet its profit targets.

In a trading update it said: “Overall, the performance of Stobart continues at a rate significantly ahead of the same period last year. In addition, we have secured the majority of our revenue expectations for the next financial year.”

Management of a new Britvic contract starts in February and volume will build over the following two months and the group is expanding its Irish operations.

The group said it” “continued to deliver an excellent service through the busiest trading period of the year leading up to Christmas, but has incurred some exceptional costs in the region of £1.5m as a result of the impact of the extreme adverse weather on the transport sector during this time.

“These costs aside, the board is confident that it will meet its expectations as indicated in the Interim Statement.”