Stobart delivers the goods despite chaos
Transport and logistics group Stobart has kept on trucking through the past six months in the face of the chaos on the financial markets.
On the right track: Andrew Tinkler says there has been 'a period of sustained growth'
'Despite the current economic climate, we are not experiencing any impact on volumes and are protected in our contracts against fuel-price increases,' chairman Rodney Baker-Bates said today.
He even believes business will improve over the coming months: 'Indeed, we expect increasing numbers of existing and new customers to look to Stobart to meet their urgent need for more cost-effective solutions to their logistics requirements.'
It is the group's first year in its present form - it was created by the merger of Westbury Property Fund and Stobart Holdings12 months ago - and the firm says there are no directly comparable results.
But chief executive Andrew Tinkler reported a 'period of sustained growth' in road transport operations and expansion of rail and port businesses.
Revenue from continuing operations was £199.2m, for a pre-tax profit of £11m. Fleet utilisation was up to 83.9% from 82.1%, and the past six months saw the first Stobart lorries on Irish roads.
Baker-Bates said the firm was on course for its strategic goal 'of becoming the UK's leading provider of multi-modal transport and logistics solutions'.
Stobart is busy bedding down the acquisition of James Irlam in April, and expects this to be completed by the end of the year. The interim dividend is 2.7p.
Most watched Money videos
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- Kia's 372-mile compact electric SUV - and it could costs under £30k
- Tesla unveils new Model 3 Performance - it's the fastest ever!
- Mercedes has finally unveiled its new electric G-Class
- Mini celebrates the release of brand new all-electric car Mini Aceman
- Land Rover unveil newest all-electric Range Rover SUV
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Introducing Britain's new sports car: The electric buggy Callum Skye
- Top Gear takes Jamiroquai's lead singer's Lamborghini for a spin
- Incredibly rare MG Metro 6R4 rally car sells for a record £425,500
- A look inside the new Ineos Quartermaster off-road pickup truck
- Mini Cooper SE: The British icon gets an all-electric makeover
- Ten tricks from financial experts that can slash the cost...
- Inside Nvidia, the tech titan whose shares have soared...
- CITY WHISPERS: North Sea tax gushers to dry up under Labour
- Interest rate cuts could crash copper prices, analysts warn
- London-listed firms dish out £12bn in dividends in three...
- Why economists are telling women: You MUST have more...
- Local councils urged to save Woodsmith workers at Anglo...
- Glencore eyes bid for Anglo American coking coal assets...
- The money experts' guide on how to invest £10,000 at...
- Spare us politicians' quick fixes: We need more...
- UK businesses urge Labour to scrap the 'tourist tax' to...
- Centrica in showdown over chief's £8.2m pay as customers...
- UTILICO EMERGING MARKETS: Building a better future -...
- The Elizabethan manor I bought for £100k has been a huge...
- Dodgy Dyllan owes couple £2k after failing to service...
- MIDAS SPECIAL: Yes, the UK market is bursting back to...
- JEFF PRESTRIDGE: Lloyds' 40% interest rate - customers...
- Vodafone completes sale of its Spanish operations for £4.3bn