Esken Limited (ESKN)

Sector:

Commercial Transport

Index:

FTSE Small Cap

14.03p
   
  • Change Today:
      0.17p
  • 52 Week High: 37.63
  • 52 Week Low: 12.06
  • Currency: UK Pounds
  • Shares Issued: 1,025.34m
  • Volume: 188,326
  • Market Cap: £143.85m
  • RiskGrade: 367

Stobart Group swings to interim loss as Covid-19 weighs on air unit

By Iain Gilbert

Date: Wednesday 04 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Aviation and energy infrastructure group Stobart said on Wednesday that freight operations at Southend Airport had helped to offset much of the disruption caused by the Covid-19 pandemic in the first half of its trading year.
Stobart posted interim revenues of £53.2m, a 29% year-on-year decline driven by a 49% drop in its aviation unit and a 22.5% decline in energy revenues.

The London-listed group reported a first-half underlying loss of £4.9m, a marked turnaround when compared to last year's £2.5m profit.

At the end of September, Stobart had cash facilities of £11.09 and had reduced cash burn for its two core businesses to £2.0m, while net debt was £89.2m.

As far as the trading outlook for Stobart Air was concerned, Stobart said it had "deteriorated significantly" since its capital raise in June due to the continued quarantine arrangements in Ireland, with limited flights operating, and stated it remained focussed on exiting the unit.

Chief executive Warwick Brady said: "Covid-19 has created unprecedented challenges for the group. In response, we have taken decisive action to bolster liquidity, reduce cash burn and protect our long-term strategic objectives.

"Our focus remains on what we can control, namely managing our operations well, optimising both cost and cash management and rationalising the portfolio to maximise value. We continue to believe our future strategy and the medium-term move to a pure-play airport and aviation services business will deliver superior shareholder returns."

As of 0910 GMT, Stobart shares were up 3.41% at 19.40p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Esken Limited Market Data

Currency UK Pounds
Share Price 14.03p
Change Today 0.17p
% Change 1.23 %
52 Week High 37.63
52 Week Low 12.06
Volume 188,326
Shares Issued 1,025.34m
Market Cap £143.85m
RiskGrade 367

Esken Limited Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
11.15% below the market average11.15% below the market average11.15% below the market average11.15% below the market average11.15% below the market average
41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average41.18% below the sector average
Price Trend
97.58% below the market average97.58% below the market average97.58% below the market average97.58% below the market average97.58% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
17.89% below the market average17.89% below the market average17.89% below the market average17.89% below the market average17.89% below the market average
5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average5.26% below the sector average

Esken Limited Dividends

  Latest Previous
  Final 2nd Interim
Ex-Div 20-Jun-19 27-Dec-18
Paid 31-Jul-19 31-Jan-19
Amount 3.00p 1.50p

Trades for 22-Oct-2021

Time Volume / Share Price
16:29 13 @ 13.82p
16:29 500 @ 13.82p
16:29 70 @ 14.20p
16:29 7 @ 14.20p
16:29 7 @ 14.20p

Esken Limited Key Personnel

COO Nick Dilworth
CFO Lewis Girdwood

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