Warrington-based logistics and supply chain organisation Eddie Stobart has announced its year end trading update, reporting a 37% rise in sales and a 12% rise in group revenues.
E-Commerce sales also grew strongly to £103m, with eight new contracts won since the acquisition of iForce, including Made.com and Wolseley, and the segment remains on track to achieve the Group’s target of 25% of Group revenues in FY19.
The company delivered strong and improved operating margins across all sectors and cash conversion for the financial year was ahead of FY16.
Alex Laffey, CEO, said: “We are pleased with our performance during the year and to have delivered strong profit growth in line with expectations.
“The last quarter of the financial year saw a marked increase in contract wins, some of which have now commenced and provide good visibility for the current financial year. Christmas trading across the Group was in line with our expectations. The new financial year has commenced well with growth ahead of prior year across all sectors and further new customer contracts agreed with Homebase, Cemex and Knauf.
“We look forward to the current year with confidence.”
The Group’s audited results for the 12 months to 30 November 2017 will be released later this year.
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