Eddie Stobart says GreenWhiteStar Acquisitions to generate GBP33mln full-year earnings
In the year to November 30 it is expected to generate underlying earnings (EBITDA) of GBP33mln.
GWSA is the holding company of the Eddie Stobart, iForce, The Pallet Network and The Logistics People businesses.
In the six months to May 31, its revenue dipped 1% while it swung to EBITDA of GBP16mln against a GBP6mln underlying loss the year before.
The increased profits reflected progress on the turnaround plan and the company expects further progress to come.
Net debt at period-end was GBP242mln and it is expected to be cut further over the next months.
Shares shot up 20% to 8p early on Monday.