ESKN Esken Limited

 

TIDMSTOB 
 
RNS Number : 3715R 
Stobart Group Limited 
20 August 2010 
 

Stobart Group Limited 
('Stobart' or 'the Group') 
 
 
Pre-Close Trading Statement 
20 August 2010 
 
Stobart Group ('Stobart' or 'the Group'), one of the UK's leading providers of 
multimodal transport logistics solutions, is issuing its pre-close trading 
statement prior to the announcement of interim results, expected on 20 October 
2010. 
 
The Group's performance in the first six months of the year is in line with 
management expectations and is significantly ahead of the same period last year. 
We expect continued growth in the second half as new contracts start to deliver, 
whilst we recognise the economic environment remains challenging. 
 
Eddie Stobart - The volumes in Eddie Stobart remain strong, benefiting from new 
contracts announced in the last 12 months including a recent significant new 
contract win for transport and warehousing for AG Barr worth around GBP7m per 
annum. Increased volume volatility has created some challenges for the business 
which are being addressed through working closely with our customers. Overall 
trading is in line with expectations and significantly ahead of last year. The 
full effect of the previously announced A W Jenkinson and Tesco Widnes chilled 
contracts will add growth in the second half. 
 
Trading at Stobart Biomass Products, which was acquired earlier in the year, is 
in line with expectations. This business including AHS Energy, which was 
acquired in July 2010, is expected to be profitable for the full year. 
 
Stobart Rail - The rail freight business is performing well and new routes are 
being developed with customers. The rail engineering services trading is steady, 
however, due to uncertainty over future Government expenditure demand from 
Network Rail remains flat. As a result, overall performance for this division is 
slightly below expectations but the business continues to present exciting 
opportunities for the Group with major projects at London Southend Airport and 
other Group sites and these projects also ensure that plant and labour in the 
division are utilised. 
 
Stobart Ports - Performance at Stobart Ports is marginally ahead of expectations 
due to tight cost control with steady volumes but limited growth. After a 
successful marketing day, management are pursuing opportunities to further 
develop the remaining 95 acres of land at the inland port. 
 
Stobart Air - At London Southend Airport, both the new railway station and 
control tower are still on target to be virtually completed by the end of 2010. 
Performance is in line with expectations and negotiations are ongoing with 
interested airlines. 
 
 
 
20 August 2010 
 
ENQUIRIES: 
 
Stobart Group 
      01925 605400 
Andrew Tinkler, Chief Executive Officer 
Ben Whawell, Chief Financial Officer 
 
i-nfluence 
         0207 2879610 
James Andrew 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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