Transport group Stobart's shares rose as much as 4.8% after it confirmed signing of a 3 year deal with consumer goods giant Unilever. As confirmed by Stobart, the contract, which will entitle the transportation company to carry out the majority of Unilever's manufacturing and distribution activities across Britain, will mean as much as 60 Million Pounds of extra business for it.
The company, which is known far and wide for its green and white Eddie Stobart trucks, recorded a 1.9 pence rise in its per share price, taking the new trading rate to 123.9 pence.
"Although the financial impact may be relatively modest, winning another blue chip customer contract does emphasize the attractiveness of the Eddie Stobart model and the strength of this core business", says Arbuthnot analyst Gerald Khoo.
Stobart has recently added Tesco and Nestle as well to its list of elite partner firms; the company reported a 12.7% rise in its profits for the first half of the current fiscal year because of it.