Stobart hit by weak demand

 

Eddie Stobart suffered a reverse yesterday when the trucking firm admitted that even the kings of the road have been affected by the recession.

Weaker demand for its services during the Olympics and even the bad summer weather buffeted the firm, which was founded by Eddie Stobart 30 years ago. His son Edward, who took over the firm, died last year at just 56.

The company said trading within its transport division had been lower than expected, a blow given that the group's last full-year results showed the transport division producing 80 per cent of profits.

Investec said in a note: "Stobart's trading statement comments were unexpected (but indicative of the economic environment) and we are making some hefty forecast downgrades."

Independent Comment
blog comments powered by Disqus
News in pictures
World news in pictures
       
 
iJobs Job Widget
iJobs Money & Business

Project Manager - Front Office - Regulatory IT

£600 - £700 per day: Orgtel: Project Manager - Front Office - Regulatory IT C...

FATCA Project Manager

£600 - £750 per day: Orgtel: FATCA Project Manager - Banking - London - £600-...

Fidessa Analyst / PM - Banking - London - £600pd

£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...

Quant Analyst, Banking, London, £55-60k Per Annum

£55000 - £60000 per annum + Benefits + Pension: Orgtel: Quantitative Analyst, ...

Day In a Page

'To farm I have to rape the countryside. It’s got to be wrong': The true effect of the badger cull

The true effect of the badger cull

'To farm I have to rape the countryside. It’s got to be wrong'
Theatre review: Daniel Radcliffe gives an admirably honest performance in Michael Grandage's The Cripple of Inishmaan

First night: The Cripple of Inishmaan

Daniel Radcliffe gives an admirably honest performance in Michael Grandage's comedy
Girls Guides drop religious reference but pledge to self and the Queen

Guides drop religious reference but pledge to self and the Queen

After 103 years, organisation changes oath to welcome 'all girls, of all faiths, and none'
Steve Tongue: Joe Kinnear was one of the boys and a breath of fresh air... 21 years ago

Steve Tongue

Joe Kinnear was one of the boys and a breath of fresh air... 21 years ago
Chris Froome: Free from 'pain in neck' after Bradley Wiggins' exit

Chris Froome: Free from 'pain in neck' after Wiggins' exit

Sky's lead rider says he is in fantastic form for the Tour and happy pecking order debate is over
Hannah England: I've got the right times – now to focus on the chess

Hannah England: Keeping Track

I've got the right times – now to focus on the chess
Beards, brawn and body art

Beards, brawn and body art

Meet London’s new batch of male models
Scandi-geeks descend on Nordicana for fan-convention

Scandi-geeks descend on Nordicana for fan-convention

British love of shows such as The Bridge, Borgen and The Killing shows no sign of fading
Behind the rhetoric what is really being done to combat desertification?

The Great Green Wall of Africa,

Behind the rhetoric what is really being done to combat desertification?
Laughter Inc: the cheering growth of the chuckle industry

Laughter Inc

The cheering growth of the chuckle industry
The bad science scandal: how fact-fabrication is damaging UK's global name for research

The bad science scandal

How fact-fabrication is damaging UK's global name for research
To the manor born: The female aristocrats battling to inherit the title

Female aristocrats battle to inherit the title

A passionate protest is gathering pace among the women of Britain's aristocracy, who believe that men should no longer automatically inherit the family pile and title.
Love struck: Photographs of JFK's visit to Berlin 50 years ago reveal a nation instantly smitten

In pictures: JFK's visit to Berlin in 1963

Photographer Ulrich Mack accompanied Kennedy on the entire trip. The results are an astonishing record of a watershed moment.
Eat shoots and leaves: Mark Hix gets creative with fresh peas, mangetouts and sugar snaps

Mark Hix gets creative with English peas

English peas and their offsprings, such as mangetouts and sugar snaps, are great tossed into a salad, says our chef.
Ceviche with a smile: Chef Martin Morales has turned South America's elegant cuisine into one of London's hottest food trends

Chef Martin Morales: Ceviche with a smile

Morales has turned South America's elegant cuisine into one of London's hottest food trends