Eddie Stobart – triple digit e-commerce growth

Logistics, haulage and e-commerce company Eddie Stobart has released its year end trading statement which showed that amongst other things, e-commerce sales grew by over 100% since 2016.

Eddie Stobart also saw double digit growth in manufacturing, industrial and bulk (MIB) as well as its retail operations. The company pointed to its acquisitions of iForce, Speedy Freight and The Logistics People have contributed to this growth.

E-commerce saw sales grow to £103 million from £49 million in 2016. This was in part due to eight new contracts that have been won since the acquisition of iForce, including Made.com and Wolseley. The segment of the company is on track to achieve 25% of the whole of the Group’s revenue by Financial Year 2019.

MIB sales grew more than 37 per cent1 to £182m in the period, while retail sales were up by 11 per cent.

Eddie Stobart chief executive Alex Laffey 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.”