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Stobart rides the escalator
Page 9
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By Joanna Bourke THE STOB A RT GROUP has avoided the burden of soaring fuel prices by building an escalator into customer contracts.
A spokesman for Stobart says: "The risk and burden gets shared by the firm and the client. [The fuel price escalator] is on the table when we tender for new business." Stobart defends the decision by adding it doesn't charge clients for a fixed-number dedicated fleet. Instead, they pay for the transport that is actually used. There are also options to consolidate loads from different companies in the same truck.
In the second quarter, the Stohart Group traded in line with management expectations, and it anticipates further profit as a result of its multimodal investments.
This follows the announcement that Stobart will run a second dedicated rail service with Tesco, from Grangemouth to Inverness, Additionally, there is development work at the Port of Weston, Runcorn.
A Stobart spokesman says: "Anything to cut lorry miles, the company will do."