Logistics help boost Stobart profits
The profit from ESL enabled the Stobart Group to report a profit for the year of £11.3m.
Stobart Group chief executive Andrew Tinkler said “T&D had a consistent year, with revenues from most business units in line with budget. New business was secured and, in part through funding awarded by government, we are working to deliver fuel and carbon reductions.
“With William Stobart at the helm, alongside the DBay team, the new business of Eddie Stobart Logistics Ltd is in a great position to deliver future growth.”
The transaction valued the business at £280.8m comprising £195.6m in cash, £44.1m in shares and approximately £41.1m in debt and debt-like items assumed by the purchaser.