•   
  •   

MoneyEddie Stobart reveals earnings woes and accounting hit

22:22  09 july  2019
22:22  09 july  2019 Source:   msn.com

Samsung Electronics' second-quarter profit likely halved as Huawei woes worsen chip glut

Samsung Electronics' second-quarter profit likely halved as Huawei woes worsen chip glut Samsung Electronics' second-quarter profit likely halved as Huawei woes worsen chip glut

Haulage firm Eddie Stobart Logistics has warned first-half earnings will be at the lower end of expectations and revealed a hit of around £2 million to last year’s results after an accounting error. Shares in the group were 4% lower, having fallen by around 10% at one stage, on the earnings woes .

Eddie Stobart , best known for its 2,700 green and red trucks plying Britain’s motorways, has stunned investors by suspending trading in its shares after an accounting investigation Brexit has played little part in Eddie Stobart ’s woes . It said this month the nature of its business meant it was “well-placed to

Eddie Stobart reveals earnings woes and accounting hit © Katie Collins Eddie Stobart has warned first-half earnings will be at the lower end of expectations (PA)

Haulage firm Eddie Stobart Logistics has warned first-half earnings will be at the lower end of expectations and revealed a hit of around £2 million to last year’s results after an accounting error.

Shares in the group were 4% lower, having fallen by around 10% at one stage, on the earnings woes.

It said current trading issues have been caused by slower-than-expected productivity in its contract logistics and warehousing units, and exiting a “problematic contract” at the end of March.

On the accounting mistake, it said results for the year to November 30 2018 are likely to be restated after new chief finance officer Anoop Kang found problems in its accounting policies around leasing.

Samsung’s earnings were likely hit by Huawei but boosted by Apple

Samsung’s earnings were likely hit by Huawei but boosted by Apple Samsung Electronics expects its second-quarter operating profit to have more than halved from a year previously, falling about 56 percent to 6.5 trillion won ($5.56 billion), according to earnings guidance released by the company today. Revenue is projected to slide about 4 percent to 56 trillion won ($47.89 billion). Video: Breaking Down Samsung's 2Q Results (Bloomberg) Your browser does not support this video require(["binding"], function (binding) { binding("wcVideoPlayer", "#video_player_8f438b66-d7f5-4a4c-8dcf-4139b754ca0a").

(Bloomberg) -- Eddie Stobart Logistics Plc secured a rescue loan from four banks, giving the British trucking firm a year to address its troubled finances, the Eddie Stobart received a takeover approach from DBAY in September after a review revealing overstated earnings estimates forced out former

Eddie Stobart has suspended trading in its shares and announced that its chief executive will stand down with immediate effect, as the firm looks into accounting discrepancies. The firm also warned its results for the first half of 2019 would be "significantly lower" than forecast.

It is set to lower the 2017-18 underlying earnings by around £2 million, with the cumulative effect of the adjustment, dating back to 2017, reaching £11.5 million.

Gallery: In photos: How travel looked in the '50s (Pictures)

Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit
Eddie Stobart reveals earnings woes and accounting hit

The group said the issue relates to the lease accounting on “four legacy sites”.

Eddie Rosario injury update: Twins outfielder limps off field after trying to leg out double

Eddie Rosario injury update: Twins outfielder limps off field after trying to leg out double Rosario is a big reason the Twins lead MLB in runs scored and home runs, leading the team in home runs (20) and RBIs (60).

Eddie Stobart , the UK logistics and haulage group, is to cut its profit from last year by about £2m after its new The company said on Tuesday that it was likely to reduce adjusted earnings before tax and interest by Eddie Stobart , which is famous for its distinctive green and red lorries, also warned that

Eddie Stobart suspends trading in its shares after accounting error. Haulage company stuns investors as chief executive stands down immediately. Haulage firm announces 39% leap in profits but warns that cuts in spending at Network Rail and tax rises will hit earnings .

Further details will be revealed in its interim results on August 29.

Eddie Stobart, whose new finance boss Mr Kang took up the role in April, had previously reported annual underlying earnings of £55.3 million last year.

The group gave assurances that, despite the half-year trading knock, it still expects to be on track with full-year forecasts thanks to expectations for a stronger second half.

It said first half group revenues rose by 8% on a like-for-like basis after a number of contract wins.

Eddie Stobart Logistics was spun out of Stobart Group in 2014.

It operates a network of more than 2,000 vehicles, 3,500 trailers and 24 distribution centres throughout UK and Europe.

MSN are empowering Women In Sport this summer. Find out more about our campaign and the charity fighting to promote the transformational and lifelong rewards of exercise for women and girls in the UK here.

Dr Ciara Kelly reveals how mortgage arrears forced her to sell her home.
Dr Ciara Kelly reveals how mortgage arrears forced her to sell her home

—   Share news in the SOC. Networks
usr: 1
This is interesting!