MORE consolidation is predicted for the logistics business.
The prediction comes out of a survey that shows that the majority of the UK’s largest logistics companies are now overseas owned.
According to the research from Barclays Corporate and accountancy firm Grant Thornton, overseas ownership of the top 50 UK logistics companies has grown to 52% over the past five years with their turnover now equating to 69% of the top 50’s total turnover. This represents a jump of more than 40%.
Barclays Corporate and Grant Thornton surveyed key decision- makers from UK logistics businesses about their views of the industry.
Major local operators include Stobart Group and Suttons.
The research shows that 58% of respondents believe merger activity in the sector will increase over the next 12 months, with 33% of companies surveyed actively planning acquisitions.
Philip Bird, corporate finance director at Grant Thornton said: “UK logistics firms need to be more successful in expanding overseas if they want to remain independent.”
