Stobart transport group reports five-fold rise in 2012 profits
A TRANSPORT company that supplies Tesco supermarkets enjoyed an almost five-fold increase in profits last year.
Haulage firm Stobart Ireland recorded a profit of €4.3m in the year to the end of last February, compared with €910,336 in 2011.
The company – which hit the headlines early last year because of threatened strike action by drivers – also had debts due within a year totalling €5.7m.
The bulk of the debt relates to money due to related companies in the group, while €1.1m is due to be paid to trade creditors.
Accounts for the 12 months to the end of last February show that the company had turnover of €41.4m in the period, with gross profit of €11.26m.
Stobart Ireland was faced with strike action last year when more than 100 workers threatened to serve notice of industrial action, claiming they were not given enough rest time between shifts.
Amid the industrial dispute, the company took the unusual step of undertaking an independent secret ballot of drivers overseen by retired Assistant Garda Commissioner Martin Donnellan.
Stobart Ireland is a division of UK logistics company Stobart Group Limited.
It employs 6,000 people in 50 cities across Europe through rail, ports, airports, estates, infrastructure, civil engineering and transport and distribution businesses.