TROUBLED haulage firm Eddie Stobart Logistics has warned that annual profits will be "significantly below" expectations after a poor first half of the year.
The distributor said that "adverse performance" combined with an ambitious budget, as well as delays on a major project, cut into the company's earnings.
On the back of the profit warning, Eddie Stobart said its leadership team has started a "wide-ranging review" into its operations and financial performance.
Eddie Stobart said it expects revenue for the six months to May 31 to be around £450 million and underlying earnings to be between £10-11m for period.
The trucking group made the announcement in a delayed update, after the company admitted a £2 million accounting error which saw its shares suspended at 70p last month. It said its shares remain suspended.
Last week, the company also confirmed it is being lined up for a possible takeover, following an expression of interest from significant shareholder DBAY Advisors.
DBAY, which owns 10% of the firm, has put forward an "expression of interest" to take full control and the possible suitors now have until October 7 to table a bid or walk away.
Hospital operator Spire Healthcare has swung to a first-half profit after it was buoyed by cost-cutting measures and increased numbers of NHS referrals.
But the UK's second largest private healthcare business saw shares dip in early trading on Monday.
Spire reported a £9.6 million pre-tax profit for the six months to June 2019, rising from a £2.2mloss in the same period in 2018.
Justin Ash, chief executive officer of Spire, said: "This was a good performance with clear signs of our strategic and operational initiatives bearing fruit.
"We promised 2019 would be a year of stabilisation with revenue growth, continued quality improvement, cash generation and net debt reduction.
"We saw growth in both private insurance and self-pay, with a particularly strong result in private insurance reflecting rising consumer awareness following our marketing campaigns.”
Aldi has said it plans to more than double its store numbers in London as it moves forward with plans to open more smaller Aldi Local stores.
However, the German discounter also said operating profits fell by 26% to £197.9 million in the 2018 full year on the back of significant investment.
Meanwhile, sales continued to surge as shoppers switch to the discounter, with annual sales across its UK stores rising 11% to £11.3 billion.
Giles Hurley, chief executive officer of Aldi UK & Ireland, said: "Whilst our expansion will continue to reach every part of the UK, we're increasing our focus on London, where our market share is just 3.4%, compared to 8.1% nationally.
"London shoppers regularly tell us they would switch to Aldi if there was one nearby, so there is clearly a significant growth opportunity for us in the capital.”
"For almost three decades we've proven that investment equals growth - investment in our infrastructure, our people and our prices.
"The commitment we have made to our customers to continue investing in the UK over the coming years remains as strong as ever."
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