Esken Limited (ESKN)

Sector:

Commercial Transport

Index:

FTSE Small Cap

13.50p
   
  • Change Today:
      0.66p
  • 52 Week High: 37.63
  • 52 Week Low: 12.06
  • Currency: UK Pounds
  • Shares Issued: 1,025.34m
  • Volume: 849,866
  • Market Cap: £138.42m
  • RiskGrade: 367

Eddie Stobart drives back to profitability

By Abigail Townsend

Date: Monday 12 Oct 2020

LONDON (ShareCast) - (Sharecast News) - The owner of transport company Eddie Stobart Logistics has motored back to the black.
Revenues in six months to 31 May were down marginally, off 1.1% at £416.5m, at holding company GreenWhiteStar Acquisitions, but underlying earnings before interest and tax jumped to £10.6m, compared to a loss of £11.6m a year earlier.

The improved numbers were attributed to an ongoing turnaround plan, which saw Eddie Stobart Logistics exit loss-making contracts, and in part to the Covid-19 pandemic, which boosted demand for logistic and transport services.

Eddie Stobart Logistics, which has refocused on the grocery and fast moving consumer goods sectors, won new business contracts during the period with Wm Morrison and McBride in the UK, and Nike and Amazon on mainland Europe.

William Stobart, executive chairman of GWSA Group, said: "These results show we have put past challenges firmly behind us.

"The past six months have shown the strength of our differentiated business model, which has allowed us to grow existing customer relationships, win new business, return the GWSA Group to profitability and overcome challenges presented by Covid-19."

Looking ahead, the company said it expected full-year underlying earnings before interest, tax, deductibles and amortisation to be "in excess" of £33m pre-IFRS 16. It expects to continue reducing net debt.

As at 1230 BST, shares in Eddie Stobart Logistics were ahead 40% at 9.30p.

Aim-listed Eddie Stobart Logistics - which also controls iForce, The Pallet Network and Logistics People as well as the Eddie Stobart brand - was rocked by an accounting scandal last year. But in December a £55m rescue deal saw former owner and shareholder Douglas Bay Capital take at 51% stake. Isle of Man-based DBay also installed William Stobart - son of founder Eddie - to oversee the turnaround.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Esken Limited Market Data

Currency UK Pounds
Share Price 13.50p
Change Today 0.66p
% Change 5.14 %
52 Week High 37.63
52 Week Low 12.06
Volume 849,866
Shares Issued 1,025.34m
Market Cap £138.42m
RiskGrade 367

Esken Limited Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
8.92% below the market average8.92% below the market average8.92% below the market average8.92% below the market average8.92% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Price Trend
98% below the market average98% below the market average98% below the market average98% below the market average98% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
17.53% below the market average17.53% below the market average17.53% below the market average17.53% below the market average17.53% below the market average
Sector averageSector averageSector averageSector averageSector average

Esken Limited Dividends

  Latest Previous
  Final 2nd Interim
Ex-Div 20-Jun-19 27-Dec-18
Paid 31-Jul-19 31-Jan-19
Amount 3.00p 1.50p

Trades for 21-Sep-2021

Time Volume / Share Price
16:35 1,703 @ 13.50p
16:29 745 @ 13.38p
16:29 484 @ 13.18p
16:28 455 @ 13.10p
16:28 39 @ 13.06p

Esken Limited Key Personnel

COO Nick Dilworth
CFO Lewis Girdwood

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