StockMarketWire.com - Eddie Stobart Logistics warned it expected first-half adjusted earnings toward the lower end of management expectations even as revenues rose by a quarter. The company said, however, that full-year results were still expected to meet its expectations.

The dour outlook for the first half was blamed on slower than anticipated productivity improvements in its Contract Logistics and Warehousing business and the short term adverse effect on the operational efficiency of its transport network from the exiting, in early March, of a problematic contract.

Group revenues for half increased by 25% from a year earlier, driven by growth and a full first half contribution from The Pallet Network. On a like-for-like basis revenues were up 8%, reflecting continuing organic growth and a number of new contract wins, the company said.

Volumes would be weighted substantially towards the second half of the year and the company expected to deliver full year results in line with the Board's expectations, Eddie Stobart said.






At 9:06am: [LON:ESL] Eddie Stobart Logistics Plc share price was -4p at 68.5p



Story provided by StockMarketWire.com