Stobart profits edge ahead

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Stobart’s operating profit was up on last year in the run-up to Christmas, the company said in its interim management statement.

“The trend in underlying profitability that we reported with the group’s interim results has continued and underlying EBIT across all of the group’s divisions for the period to 31 December 2013 was slightly ahead of the same period in the previous year, it said.

“Our Transport and Distribution business has had a busy Christmas period and has performed in line with the board’s expectations.”

The company has been focusing on reducing debt and said that it had generated £85m from property sales in the period from 1st September to date.

“All of our businesses are continuing to make steady progress and we remain confident in their potential but there is more work to be done to achieve our longer-term aspirations now that the foundations for growth, in our Air and Biomass Divisions in particular, are in place.”

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