Stobart Group Internal Fighting

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20 May 2019 11:30 - 20 May 2019 13:20 #51 by ParcelPete
Replied by ParcelPete on topic Stobart Group Internal Fighting
Better than Teresa May though.

As a cabinet maker that is.
Last edit: 20 May 2019 13:20 by ParcelPete.

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29 May 2019 10:43 #52 by CCU
Replied by CCU on topic Stobart Group Internal Fighting
Legal costs of over £5m mentioned, mainly from this case, in a loss making year:


Win or Lose, Up The Blues!

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12 Jun 2019 07:37 #53 by CCU
Replied by CCU on topic Stobart Group Internal Fighting
Tinkler loses his appeal:


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12 Jun 2019 07:57 - 12 Jun 2019 07:57 #54 by heilkmoon
Replied by heilkmoon on topic Stobart Group Internal Fighting

CCU wrote: Tinkler loses his appeal:


Business [censored] like Tinkler & co. never held any appeal for me anyway.
Last edit: 12 Jun 2019 07:57 by heilkmoon.

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14 Jun 2019 14:27 #55 by yoonited
Replied by yoonited on topic Stobart Group Internal Fighting
Tinkler may have lost but he certainly ain't gonna shut up about it.............

www.newsandstar.co.uk/news/17707160.andr...ck-on-stobart-group/

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14 Jun 2019 19:29 #56 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
Prestwick airport is available for £1-puts Carlisle into perspective.AT is a deal market so I think we will see him make a comeback in another guise-the Stobart thing is a distraction for him.I worry about the Stobart business-predominantly low or no margin businesses which relied on deal making.

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08 Jul 2019 09:58 #57 by CCU
Replied by CCU on topic Stobart Group Internal Fighting
Not going away this one!


Win or Lose, Up The Blues!

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08 Jul 2019 10:58 #58 by heilkmoon
Replied by heilkmoon on topic Stobart Group Internal Fighting
Just a pity none of these tedious, grey-faced local business types are interested in football.

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08 Jul 2019 11:09 #59 by thesilentone
Replied by thesilentone on topic Stobart Group Internal Fighting
A very compelling story, it looks like greed is the No1 motivator of the current CEO: www.savestobartgroup.com/

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23 Aug 2019 07:27 #60 by swizz
Replied by swizz on topic Stobart Group Internal Fighting
Suspended their Aim listing and on-going financial investigations.


www.investegate.co.uk/eddie-stobart--esl...201908230700040017K/

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23 Aug 2019 09:09 #61 by carwash
Replied by carwash on topic Stobart Group Internal Fighting
CEO by the name of Laffey has stood down. Dubious business practices eh?

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23 Aug 2019 10:25 #62 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
Clearly got the wrong man eh.

This looks very serious to me-and you don’t suspend listings lightly.

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23 Aug 2019 10:56 #63 by CarlisleSaints
Replied by CarlisleSaints on topic Stobart Group Internal Fighting
I thought The Stobart Group & Eddie Stobart Logistics were two completly different companies these days

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23 Aug 2019 10:57 #64 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
Had a quick look at the various press statements etc.Looks like accounting policies and particularly revenue recognition will be at the centre of this.New FD will have been having a good ferret around in the last few months and he may be trying to bring things back into the middle ground.

Problem for Stobart is it is high turnover, low margin business on the whole and therefore provisions, revenue recognition policy etc are always tempting to stretch the numbers.You then have the City putting the CEO under pressure to outperform.Not saying anything naughty but pressure to perform often sees accounting policies being stretched.Plenty of recent examples eg Utilitywise plc.

Stobart is one of those businesses where the ‘sum of the parts’ is widely regarded as bigger than the whole so I wouldn’t be surprised if we see some parts being spun out as a result of this.

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17 Sep 2019 09:15 #65 by CCU
Replied by CCU on topic Stobart Group Internal Fighting

Win or Lose, Up The Blues!

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17 Sep 2019 10:59 #66 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
A few of us were wondering how a low margin haulage business can make such big profits, pay dividends and be a big attraction to Neil Woodford-now we know.

A lot of debt here so difficult conversations coming

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17 Sep 2019 11:28 #67 by thesilentone
Replied by thesilentone on topic Stobart Group Internal Fighting
I assume the ' snippet ' about interested parties mean a takeover is imminent especially if they are already shareholders.

Shame a local Company is losing it's Cumbrian credentials.

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17 Sep 2019 13:03 #68 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
If you believe the FT today, it’s more serious than ownership-accounts are a mess, expanded too quickly, too high a dividend so essentially running out of cash

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18 Sep 2019 10:02 #69 by CCU
Replied by CCU on topic Stobart Group Internal Fighting

Win or Lose, Up The Blues!

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18 Sep 2019 14:07 #70 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
No surprise-there is a deal there but I doubt much for the equity in my view

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18 Oct 2019 07:57 #71 by carwash
Replied by carwash on topic Stobart Group Internal Fighting
Wincanton have now said they're having a look to see if they want to make an offer for Eddie Stobart. It could make some sense as Wincanton are the UK's biggest logistics business and seem to run it properly.

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18 Oct 2019 09:30 #72 by ROOSTER
Replied by ROOSTER on topic Stobart Group Internal Fighting
Stobart group have issued Tinkler with a PUSU; so he has pulled out...

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18 Oct 2019 14:13 #73 by deepfathom
Replied by deepfathom on topic Stobart Group Internal Fighting
'PUSU' ?? What is that? All I can find is Punjabi University Students Union and something else (too rude for here)
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18 Oct 2019 14:16 #74 by feckwittery
Replied by feckwittery on topic Stobart Group Internal Fighting
I'd guess Put Up or Shut Up
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18 Oct 2019 17:29 #75 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
I reckon the equity in ESL could be toast-too much debt.Familiar theme!Good to see there being interest in taking it on however.

I wouldn’t be surprised to see AT reappear with the other bidders.

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16 Nov 2019 08:46 #76 by ExiledJock

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18 Nov 2019 16:22 #77 by carwash
Replied by carwash on topic Stobart Group Internal Fighting

Laffy wrote: I wouldn’t be surprised to see AT reappear with the other bidders.


As if by magic.
www.telegraph.co.uk/business/2019/11/18/...stobart-rescue-plan/

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18 Nov 2019 16:44 #78 by pacirv
Replied by pacirv on topic Stobart Group Internal Fighting
Looks like AT was right all along about the direction it was being taken.

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18 Nov 2019 22:19 #79 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
Wrong company mate-AT was on about Stobart Group.Airports and biomass etc.

Eddie Stobart is trucking-it’s been defying gravity for a while.Shameful accounting practices overstating profits,paying dividends from borrowed money resulting in £200m of debt.

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Yesterday 09:59 - Yesterday 10:00 #80 by pacirv
Replied by pacirv on topic Stobart Group Internal Fighting
Oops! AL so many different bits makes it confusing lol.
Last edit: Yesterday 10:00 by pacirv.

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Yesterday 11:05 #81 by Laffy
Replied by Laffy on topic Stobart Group Internal Fighting
The really interesting business is Stobart-airports and energy.The CEO is a good guy and turning it into a cash generative business.Its also got a chunk of debt but good assets like Southend.It also owns the Stobart brand but that looks a bit sad in light of recent events.

ESL was spun off and is simply the haulage side.Its a high volume, low margin business in a cut throat sector-burdened with £200m of debt and some dodgy accounting, now in intensive care.I can see this being of interest to AT who is a deal maker and would give him a platform to build something again.But it needs some serious balance sheet surgery.Good luck to him if he can pull it off.

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