23rd Aug 2019 07:36
(Alliance News) - Eddie Stobart Logistics PLC Chief Alex Laffey is to step down, Sky News reported Thursday evening, with the company unlikely to post its results on time and facing possible suspension.
Sky learned that Laffey is departing only two years after the firm's AIM market floatation in the wake of a profit warning and ahead of possible suspension.
Back in July, Eddie Stobart dropped its adjusted earnings before interest and taxation by GBP2 million, Sky noted, after "a review of prior year financial statements".
"Sources said the company's shares were likely to be suspended on Friday because it would be unable to meet a statutory? deadline for publishing its half-year results, which had been scheduled for the latter part of next week," according to Sky.
Sky also reported that Neil Woodford's troubled firm, Woodford Investment Management, has a "just under 23%" stake in Eddie Stobart.
https://news.sky.com/story/eddie-stobart-crisis-deals-fresh-blow-to-woodford-11791584
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