Stobart hit by weak demand
Saturday 25 August 2012
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."
- 1 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face the death penalty
- 2 PornHub turns masturbation into energy in bid to save the planet
- 3 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 The jihadi girls who went to Syria weren't just radicalised by Isis — they were groomed
End of the licence fee: BBC to back radical overhaul of how the Corporation is funded
Stephen Hawking's wife Jane Wilde on their marriage breakdown: 'The family were left behind'
Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face the death penalty
PornHub turns masturbation into energy in bid to save the planet
With money, corruption and drugs, this monk fears Buddhism in Thailand is a ‘poisoned fruit’
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...