LONDON (Alliance News) - Support services and logistics provider Stobart Group Ltd on Thursday said it remains on track to meet its medium-term goals amid solid trading in its divisions.
Stobart said it remains well-placed to navigate through the challenges resulting from the UK's vote to leave the European Union and is confident it will deliver growth under its strategy to boost its Energy, Aviation and Infrastructure businesses out to 2018.
In the Energy arm, Stobart said total biomass fuel tonnages supplied in the first quarter, to the end of May, increased 2.0% year-on-year to 247,000 tonnes. Stobart said the focus remains on fulfilling the contracts it already has in place and boosting margins in the energy unit.
In its Aviation arm, within which it runs London Southend Airport, like-for-like passenger numbers and load factors in the first quarter were broadly flat year-on-year, but revenue per passenger increased.
The management team at London Southend has started talks with a number of low-cost airlines and other operators in order deliver Stobart's desired growth at the site, it said.
Stobart said its Infrastructure arm has exceeded its expectations, with the profitable disposal of its Speke investment property boosting returns.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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