Thursday 29th Sep 2016 - Logistics Manager

Profit rise at Eddie Stobart Logistics

Underlying EBITDA at Eddie Stobart Logistics was £38.5m in the year to 28th February 2015 – up £400,000 on the year before. Underlying pre-tax profit was £14.8m.EddieStobartLogisticsEddie Stobart Logistics is now part of Greenwhitestar Holding Company 1 Ltd, an Isle of Man registered company in which Stobart Group has a 49 per cent stake.

In its annual report for 2014-15, Stobart Group said its share of Greenwhitestar’s underlying profit for the year to 28th February was £6.4m.

Eddie Stobart Logistics revenue in the previous year was £559.6m, according to Stobart Group. Underlying pre-tax profit was £25.3m for the year to 28th February 2014.

Overall, said the Stobart Group, Greenwhitestar had a solid year with a small number of new business wins. One highlight was the acquisition of a rail connected site just off the A13 in Dagenham with 487,000 sq ft of warehousing including cold storage facilities.

Stobart Group said cash generated from operations by the trading divisions of Greenwhitestar after the disposal had been £30m which was being used to repay its borrowings in the Greenwhitestar business.