STOB - looks OK23 Jan 2019 10:29
Update on Capital Review and Q4 dividend
The Group has continued to progress its growth plans for Stobart Aviation, which reported a 37% year-on-year increase in passenger numbers at London Southend Airport, and Stobart Energy, which reported a 72% year-on-year increase in tonnes supplied at the time of its Interim Results in October.
This operational progress has continued during the second half and the Group is trading in line with expectations. This progress has also led the Group to identify an increasing number of potential projects with attractive forecast returns on capital.
The expansion opportunities at London Southend Airport are increasingly evident in view of the opportunities arising from the commercial agreements with Ryanair and easyJet, together with other airline partners. The agreements provide confidence that the airport will record significantly increased passenger numbers from next year, with the Group targeting 5 million passengers from 2022 at £10 EBITDA per passenger