Stobart Group Limited Pre-Close Trading Statement (7104K)
24 Agosto 2012 - 8:00AM
UK Regulatory
TIDMSTOB
RNS Number : 7104K
Stobart Group Limited
24 August 2012
Stobart Group Limited
('Stobart' or 'the Group')
Pre-Close Trading Statement
24 August 2012
Stobart Group ('Stobart' or 'the Group'), is issuing its
pre-close trading statement prior to the announcement of interim
results for the six months to 31 August 2012, expected on 25
October 2012.
The Group continues to pursue its stated strategic direction and
remains confident that it will achieve its strategic plan and
deliver significant shareholder value as planned.
The current recessionary climate has an ongoing impact slowing
growth in the transport sector. The Group has positioned itself to
be successful in difficult times with a clear five divisional
strategy. This means that whilst short term performance in
transport is lower than market expectations, long term expectations
across the business remain robust.
The majority of the transport business has progressed well. The
restructuring of the chilled business alongside bad summer weather
was reflected in retail sales. This has resulted in some losses for
the chilled fleet but the current restructuring will result in a
more robust and streamlined business for the future.
The division completed the acquisition of Autologic Holdings plc
on 9 August 2012 which adds many opportunities within the
automotive market place.
Following recent announcements regarding ROC banding, the
Biomass Division has received many new enquiries and contractual
negotiations have been accelerated. Major contracts are now
expected to commence in the last quarter and the Group is well
positioned to deliver volume growth in 2012/13.
In the Air division, passenger numbers with easyJet and Aer
Lingus continue to grow. London Southend Airport serviced around
250,000 passengers in the quarter to the end of July 2012. The
airport has obtained planning consent to expand significantly the
size of the passenger terminal and the airport was recently
allocated London Metropolitan area designation by IATA. Air is a
key deliverable within the 2015 plan and the Board are very pleased
with progress to date within this area.
The Estates division is working on both further developments of
its sites and profitable disposals. Given market conditions,
progress on this has been slower than anticipated as the Group is
focused on maximising value from the portfolio.
The Infrastructure and Civil Engineering division continues to
add valuable engineering development of the Group's sites whilst
focussing on profitable external work.
The Board continue to be firmly focused on driving the continued
progress of the group and the delivery of value to
shareholders.
ENDS
About Stobart Group
Stobart Group is listed on the London Stock Exchange in the
FTSE250 (LSE:STOB). Operating from over 61 sites across the UK and
Europe, Stobart Group is a UK front-runner in the multimodal
logistics, warehousing, civil engineering, rail infrastructure and
biomass fuel sectors. At the core of the Group is the Stobart
Transport and Distribution division, incorporating Eddie Stobart -
the iconic name behind a huge road haulage fleet totalling some
3,000 tractor units and over six million square feet of
warehousing. Stobart Estates, Stobart Infrastructure and Civil
Engineering, Stobart Air and Stobart Biomass divisions complete the
Group's corporate structure.
www.stobartgroup.co.uk
Enquiries:
Stobart Group +44 1925 605 400
Andrew Tinkler, Chief Executive
Officer
Ben Whawell, Chief Financial
Officer
i-nfluence +44 20 7287 9610
Stuart Dyble/James Andrew
Square1 Consulting +44 20 7929 5599
David Bick/Mark Longson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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