Stobart Group Limited Pre-Close Trading Statement (3554X)
28 8월 2015 - 3:00PM
UK Regulatory
TIDMSTOB
RNS Number : 3554X
Stobart Group Limited
28 August 2015
28 August 2015
STOBART GROUP LIMITED
('Stobart' or 'the Group')
Pre-Close Trading Statement
Stobart Group, the infrastructure and support services group,
issues the following pre-close trading statement prior to the
announcement of the interim results for the six months to 31 August
2015, which is expected to be made on 22 October 2015.
Energy
Our target is to supply over 2 million tonnes of biomass fuel
per annum by 2017/18.
Our current customers require 1.2 million tonnes and, as
announced earlier this year, long-term contracts have been secured
to supply an additional 1 million tonnes from 2017/18 when further
plants, which are currently under construction, are completed and
commissioned. In the five months to 31 July 2015, the volume we
supplied was at a similar level to the same period last year,
despite some temporary power plant shutdowns due to unscheduled
maintenance and significant operational issues, caused by the
well-publicised delays at Eurotunnel. Margin per tonne is
significantly ahead of the prior year as we have benefitted from an
increase in volumes supplied to our long-term contracted UK
customers and greater production efficiencies achieved at our own
operational sites.
Aviation
Our target is to achieve over 2.5 million passengers annually by
2018 at London Southend Airport.
We reported in the AGM Statement in June that we are currently
working with easyJet to determine the optimum capacity for the
routes it currently operates from London Southend Airport. Stobart
Group guided then that this would lead to a short-term fall in
passenger numbers over the summer. As a result of this process,
passenger numbers in the five months to 31 July 2015 decreased by
99,000 year-on-year to 410,000, but revenue per passenger
increased.
Stobart Group's growing relationship with easyJet, coupled with
discussions with other low cost airlines, gives us confidence we
will be well placed to announce new routes and achieve our target
of welcoming 2.5 million passengers to London Southend Airport
annually by 2018.
Rail, Infrastructure, Investments
Our Rail division is trading well, achieving good margins and
has a healthy pipeline for the rest of the year. In our
Infrastructure division, we completed the disposal of the Worcester
property in March 2015, realising GBP6.2m. The development of a new
distribution centre at our site at Carlisle Lake District Airport
is expected to be completed on time in September 2015. In our
Investments division, Eddie Stobart Logistics is trading ahead of
prior year.
Chief Executive Andrew Tinkler commented:
"We have continued to focus primarily on delivering value in our
two high growth divisions, Energy and Aviation, and we continue to
build the infrastructure and relationships to meet our targets in
these markets. I am also pleased with the promising new contract
wins in Stobart Rail."
Enquiries:
Stobart Group +44 20 7851 9090
Andrew Tinkler, Chief Executive
Officer
Ben Whawell, Chief Financial
Officer
Redleaf Polhill +44 20 7382 4730
Emma Kane
Charlie Geller
influence Associates +44 20 7287 9610
Stuart Dyble
James Andrew
END
This information is provided by RNS
The company news service from the London Stock Exchange
END
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