Trading Statement (8496Z)
21 Gennaio 2011 - 8:00AM
UK Regulatory
TIDMSTOB
RNS Number : 8496Z
Stobart Group Limited
21 January 2011
For immediate release, 21st January 2011
Stobart Group Limited
Trading update
21 January 2011
Stobart Group ('Stobart' or 'the Group'), one of the UK's
leading providers of multimodal transport logistics solutions, is
issuing its Interim Management Statement covering the period from
20 October 2010 to the current date.
The Group continued to deliver an excellent service through the
busiest trading period of the year leading up to Christmas, but has
incurred some exceptional costs in the region of GBP1.5m as a
result of the impact of the extreme adverse weather on the
transport sector during this time. These costs aside, the Board is
confident that it will meet its expectations as indicated in the
Interim Statement.
Overall, the performance of Stobart continues at a rate
significantly ahead of the same period last year. In addition, we
have secured the majority of our revenue expectations for the next
financial year.
The Group is pleased to report the following highlights since
the Interim Statement in October:
-- Strong growth in revenue from the new business announced in
the first six months including Tesco Widnes, A G Barr and Tesco
Ballymun;
-- In December Stobart started to transport volume for Tesco's
Milton Keynes operations;
-- Biomass volumes have increased ahead of expectations with a
significant export operation underway;
-- The rail civil engineering business completed three major
projects over the Christmas period, despite the extreme adverse
weather conditions;
-- London Southend Airport railway station is planned to open
over the coming weeks prior to the commencement of passenger
flights;
-- Work has commenced on the new terminal building and runway in
line with the development timetable;
-- A revised planning application has been submitted for the
development of Carlisle Lake District Airport, including the
relocation of Stobart operations onto one purpose built site.
Our expectations for the coming months include:
-- Continued growth in revenue and profitability for our
transport and distribution operations;
-- Management of the Britvic contract commences on 1 February
and volume will build over the following two months;
-- Expansion of our Irish operations around the new business
secured;
-- Commencement of flights from London Southend Airport in March
with Aer Arann;
-- Announcement of new routes and operators for the Airport;
-- New contracts and volume for Stobart Biomass Products.
The Group will announce its full year results, for the year
ended 28 February 2011 on Wednesday 11 May 2011. Details of the
location and time for the analyst presentation will be announced in
due course.
21 January 2011.
ENDS
ENQUIRIES:
INFLUENCE 0207 2879610
James Andrew 07772 534 985
Stuart Dyble 07599 835 700
Stobart Group 01925 605400
Ben Whawell, Chief Financial Officer
Andrew Tinkler, Chief Executive Officer
About Stobart Group
Stobart Group is listed on the London Stock Exchange in the
FTSE250 (LSE:STOB),
and is the UK leader in multimodal transport and logistics
solutions. It is one of the most recognised and strongest brands in
Britain, best known for its iconic Eddie Stobart trucks. Today,
Eddie Stobart is the name behind a road haulage fleet totalling
1,850 trucks and over six million square feet of cutting-edge
warehousing facilities. By size, Eddie Stobart has the best vehicle
utilisation in the industry, helping to maximise efficiency and
environmental benefits.
The Group has pioneered several environmental initiatives in the
industry such as modal shift from road to rail with the Stobart
Rail low-carbon service that brings fresh produce into the UK from
southern Europe via the Channel Tunnel. Stobart is also innovating
with the creation of Stobart Biomass Products Limited, a new
venture with A.W. Jenkinson - the UK leader in biomass fuels. This
positions the Group at the heart of the fast growing and transport
intensive market for renewable energy.
Stobart Group employs over 5,000 people in 40 different
locations, offering multimodal logistics solutions to customers
across Europe through the Stobart Rail, Stobart Ports, Stobart Air
and Eddie Stobart Divisions. The Group is fast developing these
divisions into industry leaders, and by developing assets such as
London Southend Airport, Carlisle Lake District Airport and Mersey
Multimodal Gateway in Widnes, is creating new business for the
Group's core transport and logistics operations.
www.stobartgroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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