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Stobart Group Says H1 Performance Is In Line With Management Expectations And Significantly Ahead Of Last Year - Quick Facts

(RTTNews) - Stobart Group (STOB.L), in its pre-close trading statement, said that 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. The Group expects continued growth in the second half as new contracts start to deliver, whilst it recognise the economic environment remains challenging.

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 ??7 million per annum, Stobart Group noted. The group said that the trading at Stobart Biomass Products, which was acquired earlier in the year, is in line with expectations, while performance at Stobart Ports is marginally ahead of expectations due to tight cost control with steady volumes but limited growth.

The rail freight business is performing well and new routes are being developed with customers. In Stobart Air, performance is in line with expectations and negotiations are ongoing with interested airlines, the Group added.