Stobart Group reckons long term expectations remain robust, despite the current recessionary climate which has been slowing growth in the transport sector, the group said in a pre-close trading statement.
Stobart has just completed the acquisition of Autologic, the car transport specialist.
“The Group has positioned itself to be successful in difficult times with a clear five divisional strategy. This means that while short term performance in transport is lower than market expectations, long term expectations across the business remain robust.”[asset_ref id=”1707″]
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 group expects to see volume growth in the Biomass business with new contracts expected to start in the last quarter.
And it said it was pleased with progress in the Air division where it has seen growth in the number of passengers using Southend.
Stobart’s interim results for the six months to 31 August are expected on 25 October.