Logistics Development Group (LDG)

Sector:

Commercial Transport

Index:

FTSE AIM All-Share

11.25p
   
  • Change Today:
    -0.050p
  • 52 Week High: 15.40
  • 52 Week Low: 11.00
  • Currency: UK Pounds
  • Shares Issued: 525.81m
  • Volume: 307,535
  • Market Cap: £59.15m
  • RiskGrade: 440

Eddie Stobart Logistics's full-year losses balloon, but chairman optimistic

By Alexander Bueso

Date: Monday 06 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Eddie Stobart Logistics posted a huge increase in its full-year loss before tax even as management tried to draw a line under past accounting shortfalls and sounded a confident note on the firm's finances and outlook.
The company, an AIM-listed cash shell holding a 49.0% stake in logistics specialist Eddie Stobart Group, said that on a statutory basis its red ink for the year ending on 30 November 2019 reached £238.9m, against -£22.3m one year earlier, chiefly due to a previously disclosed impairment charge of £169.2m.

Eddie Stobart Logistics's full-year sales did increase by 9.7% to £857.5m, albeit due to the 2018 acquisition of TPN, and its debt pile increased substantially, rising by £54.9m to £214.5m.

Adrian Collins, Eddie Stobart Logistics's chairman, admitted that the annual results made "for difficult reading" but assured investors that the company was "putting these issues behind us" and that he looked to the future with optimism.

ESG's chief executive officer was sacked in late 2019 after the results of the probe into the firm's accounting were published, although the company avoided going into administration thanks to Douglas Bay Capital, who took a 49% stake and injected £70.0m into the business.

Nonetheless, according to Eddie Stobart Group's management, following that investment from Douglas Bay, the group "continues to be well funded in this period of uncertainty".

In a trading update covering the period since November 2019 and provided to Eddie Stobart Logistics, ESG also highlighted how the majority of its staff were "front-line key workers delivering essential goods and providing a critical service across the UK", its "strong exposure" to so-called fast-moving consumer and grocery goods, and the "strong volumes" that it was experiencing in e-commerce related activities.

As of 1232 BST, shares of Eddie Stobart Logistics were 7.97% higher to 7.45p.



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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.

 

LDG Market Data

Currency UK Pounds
Share Price 11.25p
Change Today -0.050p
% Change -0.44 %
52 Week High 15.40
52 Week Low 11.00
Volume 307,535
Shares Issued 525.81m
Market Cap £59.15m
RiskGrade 440

LDG Star Ratings

Compare performance with the sector and the market.
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Market averageMarket averageMarket averageMarket averageMarket average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

LDG Dividends

  Latest Previous
  Final Interim
Ex-Div 09-May-19 06-Sep-18
Paid 07-Jun-19 19-Oct-18
Amount 4.76p 1.54p

Trades for 28-Mar-2024

Time Volume / Share Price
16:14 19,449 @ 11.25p
15:32 7,000 @ 11.01p
15:31 17,733 @ 11.25p
15:16 50,000 @ 11.01p
15:05 59,932 @ 11.22p

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