Snowman Logistics gains after entering into a service agreement with COMPASS

Snowman Logistics rose 3.56% to Rs 102.70 at 11:40 IST on BSE after the company said it entered into a three year service agreement with international food services giant COMPASS

The company made announcement after trading hours yesterday, 9 July 2015.

Meanwhile, the S&P BSE Sensex was up 10.79 points or 0.03% at 27,581.61.

On BSE, so far 2.08 lakh shares were traded in the counter as against average daily volume of 1.83 lakh shares in the past one quarter.

The mid-cap stock hit high of Rs 104 and a low of Rs 100.75 so far during the day. The stock hit a record high of Rs 134.70 on 19 November 2014. The stock hit a 52-week low of Rs 74.75 on 25 March 2015.

Snowman Logistics said it entered into a three year service agreement with international food services giant COMPASS (CGISS), signaling the start of a new vertical at Snowman. Compass India is a part of Compass Group PLC, one the world's leading food and support services company. As per the agreement, Snowman will address the complete supply chain needs of the food service division of Compass India.

Snowman Logistics registered net profit of Rs 14.25 crore on sales of Rs 53.84 in Q4 March 2015.

Snowman Logistics is an integrated temperature controlled logistics services provider with 23 temperature controlled warehouses across 14 locations in India including Serampore (near Kolkata), Taloja (near Mumbai), Palwal (near Delhi), Mevalurkuppam (near Chennai) and Bengaluru capable of warehousing 58,543 pallets and 3,000 ambient pallets as of 31st March 2014. Snowman operates 370 reefer vehicles for primary and secondary transportation as of 31st March 2014.

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