Eddie Stobart Logistics PLC Half Year Trading Update (9035S)

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RNS Number : 9035S

Eddie Stobart Logistics PLC

28 June 2018

28 June 2018

Eddie Stobart Logistics plc

("Eddie Stobart" or the "Company")

Half Year Trading Update

Eddie Stobart Logistics plc, a leading UK supply chain, transport and logistics group provides the following trading update for the six months to 31 May 2018. Group revenues for the period were GBP357.7m a 25% increase on the comparable period for 2017. This reflected strong organic growth from recent contract wins and the contribution from acquisitions (iForce and Speedy Freight) which continue to trade in line with expectations.

Both underlying EBITDA and EBITA have increased versus the comparable period in 2017. Our performance, as in previous years, will be weighted towards the second half of the year with the first half absorbing the costs of implementing new contract wins (which will flow through into second half), the impact of the exceptionally poor weather and the reorganisation of our warehousing division to accommodate increased demand from both iForce and Eddie Stobart customers (the benefit of which will again flow in the second half).

We continue to register strong levels of contract wins in all our sectors and during the first half of this year have won new contracts with an annualised value of circa GBP100m. We remain confident of delivering full year results in line with market expectations.

Enquiries:

 
 Eddie Stobart Logistics plc         Via FTI Consulting 
  Alex Laffey, Chief Executive 
  Officer 
  Damien Harte, Chief Financial 
  Officer 
 FTI Consulting LLP 
  Nick Hasell/Alex Le May/Matthew 
  O'Keefe 
  [e-mail] 
  www.fticonsulting.com                020 3727 1340 
 Cenkos Securities (Nomad 
  and Joint Broker) 
  Nicholas Wells/Harry Hargreaves 
  www.cenkos.com                     020 7397 8928 
 Berenberg (Joint Broker) 
  Chris Bowman/Toby Flaux/James 
  Brooks 
  [e-mail] 
  www.berenberg.com                  020 3207 7800 
 

About Eddie Stobart

Eddie Stobart is a leading supply chain, transport and logistics business providing industry-leading service to many of the UK's best-known brands.

Founded in 1970 by Edward Stobart, the business is listed on the London Stock Exchange's Alternative Investment Market (AIM) and operates across a broad array of core sectors including e-commerce, manufacturing, industrial & bulk, retail and consumer.

From its headquarters in Warrington, the business operates circa.2,300 vehicles, c.4,000 trailers and 26 distribution centres throughout the UK and Europe, providing its services to a range of national and international customers.

Through Eddie Stobart's acquisitions, its network and scale has grown. iForce (acquired in April 2017) has three owned distribution centres and operates out of six customer sites and Speedy Freight (acquired in July 2017) has 40 branches. Collectively, these sites significantly expanded the scale of the Eddie Stobart network.

Further information about Eddie Stobart is available at: http://eddiestobart.com/

Please click here to find information for investors: http://eddiestobart.com/investor-relations/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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June 28, 2018 07:15 ET (11:15 GMT)