Stobart cheers its return to black

founded, has extended its contract for another decade. The company, which began Palletways membership handling just seven pallets per day, now processes over 400 pallets a day.

East Sussex-based Independent Logistics Solutions (ILS) has also extended its Palletways UK contract, while Bicesterbased Darcica Logistics is the newest signing.

Stobart has returned to pre-tax profitability, latest figures showed, despite the “significant challenge” of the driver shortage affecting the haulage giant’s results.

For the 13-month period ending 31 December 2021, the company reported revenues of £591.2m and a pre-tax profit of £3.3m.

This compared to a £559.1m turnover in the previous 12 months, with a £7.7m pre-tax loss.

The haulier’s holding company, Greenwhitestar Acquisitions, was acquired by Culina Group in July

2021 and Stobart said that since the purchase it had continued to invest and had also rebranded.

Profit from operating activities before exceptional items increased by £7.5m to £41.2m, mostly due to its efforts to cut overheads and streamline the business.