“Searching forward, we are self-assured that our renewed emphasis on our historic core capabilities as transport and logistics providers supplier for the FMCG and grocery sectors, and as a foremost player in e-commerce logistics and fulfilment, will let us to generate successful progress going forward.”
Mr Stobart, son of founder Eddie, retook management of the haulier pursuing an accounting scandal very last year when £2m was unaccounted for.
The complications led to an investigation in excess of the auditors – KPMG and PwC – and observed shares in Eddie Stobart Logistics suspended.
A £55m rescue offer was agreed very last December, which observed offshore personal fairness organization Dbay Advisors buy a 51pc stake in Eddie Stobart Logistics – putting in Mr Stobart as chairman to oversee the turnaround.
In the six months to May possibly 31 revenues fell 1.1pc to £416.5m and underlying pre-tax income – which exclude any a person-off costs – swung from a £6.3m decline to a £16.6m profit. It did not disclose statutory income.
Net personal debt rose, however, from £236.9m to £242.7m due to the costs of the offer in December via a substantial-desire loan called a PIK notice.
Bosses reported they want to re-finance the loan “as soon as is practicable”.
In May, Eddie Stobart lorry company agreed to buy the legal rights to its own identify in a £10m deal aimed at ending confusion about the brand’s ownership.
Previously, the trucking company could only use the Eddie Stobart brand under licence from completely different company Stobart Team, the London-outlined owner of Southend Airport.
Underneath the settlement, the haulier took management of the identify, with Stobart Team scheduling to rename alone.