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
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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
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Not going away this one!


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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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