Opportunity knocks for Eddie Stobart

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Stobart Group reckons it is seeing more new business opportunities than in previous years for ambient transport and warehousing.

In a trading update for the first four months of the year, the group said the majority of divisions trading ahead of the previous year.

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The Transport and Distribution division has experienced mixed fortunes since March with the ambient transport and warehousing performing. However, “the restructure of the chilled operations, while progressing, has resulted in some further costs.”

Stobart is in the process of taking over Autologic, the car transport specialist, in an agreed deal worth £12.4m. It said Autologic would  add significant revenue to the division and provide an entry into a new market.

The Estates division now has planning permission for 1.4m sq ft of warehousing at Stobart Park in Widnes.

Mild weather in Scandinavia affected exports in the Biomass business, but Stobart said the start of UK power station contracts in the second half would drive long term volume growth.

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