THE owner of iconic haulage firm Eddie Stobart and Cheshire-based rival James Irlam & Sons today expressed confidence for the future despite the state of the economy, after hailing a period of `significant progress' for the company.

Stobart Group, which floated last year after a merger with ports business Westbury, unveiled pre-tax profits of £11m for the six months to August 31 on revenues of £199.2m. The group will pay an interim dividend of 2.7p.

It said James Irlam & Sons, which it bought for £60m in April, contributed revenues of £29m and profits of £3.2m.

Group chief executive Andrew Tinkler said the integration of James Irlam was progressing and should be completed by the end of the financial year, bringing considerable operating efficiencies.

Stobart, famous for its green and red trucks, has its main bases in Warrington, Runcorn, Daventry and Carlisle.

It employs more than 5,300 people nationwide.

In addition to haulage, it operates rail, sea and storage services. The group made several other acquisitions during the first half of the year and expanded its rail freight services.

Chairman Rodney Baker-Bates hailed a period of `significant progress' for the group, adding: "We now have a balanced business that is delivering an ever-increasing range of transport solutions to a broad and growing client base.

"Despite the current economic climate, we are not experiencing any impact on volumes and are protected in our contracts against fuel price increases.

"Indeed, we expect increasing numbers of both existing and new customers to look to Stobart to meet their urgent need for more cost-effective solutions to their logistics requirements.

"This, along with the breadth and quality of our service offering will, we believe, enable us to continue to grow the group's profitability during these difficult times."

Shares ticked up 0.54 per cent, or 0.5p, to 93p, valuing the group at more than £211m. Tweet