Eddie Stobart Logistics (LON: ESL) said on Monday that the group has returned to profitability, leading shares to jump over 12% on opening.
The group’s holding company said that it has seen customers increase over the course of the pandemic as well as ended loss-making contracts.
Revenues of £416.5m are broadly in line with the same period last year and the group expects further profitability and a positive cash flow.
William Stobart, the executive chairman of GWSA, said:
“I am pleased to be back leading the GWSA Group. These results show we have put past challenges firmly behind us. The past six months have shown the strength of our differentiated business model which has allowed us to grow existing customer relationships, win new business, return the GWSA Group to profitability and overcome challenges presented by Covid-19.
“Looking ahead, we are confident that our renewed focus on our historic core capabilities as transport and logistics services provider for the FMCG and grocery sectors, and as a leading player in e-commerce logistics and fulfilment, will allow us to drive profitable growth going forward,” he added.
Eddie Stobart Logistics shares (LON: ESL) are trading 15.07% higher at 7.65 (0904GMT).