Eddie Stobart Logistics PLC updates revenue guidance for the half year ended May 31, 2019. The Board expects that the impact of these adjustments will now mean that revenue for half year 2019 will be approximately £435 million against £450 million as previously forecasted.

The company expects to restate earnings results for the fiscal 2017 and 2018. Approximately £17 million and £33 million derived from those activities for Fiscal year 2017 and fiscal year 2018 respectively and approximately £13 million prior to fiscal year 2017 will need to be reversed and restated, and the amount related to these activities recognized over the life of the lease. This will result in a  reduction in previously reported EBIT in those years and a net adjustment to the Group's net assets at 1 December 2018 of company. £48 million, inclusive of an estimated tax reduction of £12 million.  This will also mean that in future years, recognised lease costs will be lower by approximately £4 million per annum, reflecting the benefit of the amortisation of lease incentives on unexpired leases entered into in the past.

The company announced that Anoop Kang, Chief Financial Officer of the Group will step down from the Board of the Company, and will be appointed to the board of Greenwhitestar.