28 Jun 2012 12:19
28 June 2012
STOBART GROUP LIMITED
('Stobart' or 'the Group')
Interim Management Statement and Results of AGM
Stobart Group, issues the following Interim Management Statement - covering the near to 4-month period from the commencement of the new financial year on 1 March 2012 to date - to coincide with its Annual General Meeting ('AGM'), which was held today.
The Group has continued to make progress across all divisions in the current year with the majority of divisions trading ahead of the previous year. The board remains confident on delivering the strategy over the next three years.
The Air division commenced operations from London Southend Airport with easyJet which became fully operational in May alongside a new service with Aer Lingus Regional from Dublin. The airport had serviced 172,000 passengers in the 12 weeks ending 22 June.
The Biomass division experienced modestly lower than expected export volumes during Spring due to the mild weather in Scandinavia but is viewing the start of UK power station contracts in the second half of the financial year as the start of long term volume growth.
The Transport and Distribution division has experienced mixed fortunes since March with the ambient transport and warehousing performing well and witnessing more new business opportunities than in previous years. However, the restructure of the chilled operations, whilst progressing, has resulted in some further costs. The recently announced Recommended Offer for Autologic Holdings plc will add significant revenue to the division and provide an entry into a new market.
In the Estates division opportunities are being pursued at Stobart Park in Widnes where planning for 1.4m square feet of warehousing has been secured. In addition, a number of initiatives are underway with the Moneypenny portfolio and other property assets within the Group.
The main focus of the Civil Engineering division is providing value and support to internal infrastructure and development projects. These include the outstanding developments at London Southend Airport and the expected future developments at Stobart Park.
Stobart Group expects to announce its results for the six months to 31 August 2012 on 25 October 2012.
Details of voting at Annual General Meeting
Votes in favour | Votes at Chairman's discretion | Votes against | Votes withheld | % in favour incl. Chairman's discretion but excl. withheld votes | |
To receive the Company's Annual Accounts and the Directors' Report, Directors' Remuneration Report and the Auditors' Report. | 286,726,905 | 191,490 | 20,911 | 26,426 | 99.99 |
To declare a final dividend of 4p per ordinary share. | 286,821,107 | 138,849 | 262 | 5,514 | 99.99 |
To re-elect Ben Whawell as a Director. | 286,491,922 | 153,463 | 288,409 | 31,938 | 99.90 |
To re-elect Andrew Tinkler as a Director. | 286,503,316 | 142,663 | 292,209 | 27,544 | 99.90 |
To re-elect Rodney Baker-Bates as a Director. | 262,274,433 | 155,463 | 24,206,044 | 329,792 | 91.56 |
To re-elect Alan Kelsey as a Director. | 271,692,018 | 156,463 | 14,001,459 | 1,115,792 | 95.10 |
To re-elect Paul Orchard-Lisle CBE as a Director. | 270,096,212 | 153,463 | 15,592,793 | 1,123,264 | 94.54 |
To re-elect David Beever as a Director. | 271,708,161 | 153,463 | 13,991,316 | 1,112,792 | 95.11 |
To re-elect Michael Kayser as a Director. | 271,867,498 | 153,463 | 13,827,379 | 1,117,392 | 95.16 |
To re-appoint Ernst & Young LLP as Auditors of the Company. | 269,089,662 | 142,649 | 17,720,771 | 12,650 | 93.82 |
To authorise the Directors to fix the Auditors' remuneration. | 286,333,560 | 158,463 | 471,039 | 2,670 | 99.84 |
To approve the Directors' Remuneration Report. | 199,029,575 | 161,742 | 38,199,830 | 49,574,585 | 83.91 |
To authorise the Directors to issue shares. | 286,604,172 | 168,671 | 163,038 | 29,851 | 99.94 |
To disapply pre-emption rights on the issue of shares in the Company. | 286,523,201 | 164,365 | 244,489 | 33,677 | 99.91 |
ENDS
About Stobart Group
Stobart Group is listed on the London Stock Exchange in the FTSE250 (LSE:STOB). Operating from over 40 sites across the UK and Europe, Stobart Group is a UK front-runner in the multimodal logistics, warehousing, civil engineering, rail infrastructure and biomass fuel sectors. At the core of the Group is the Stobart Transport and Distribution division, incorporating Eddie Stobart - the iconic name behind a huge road haulage fleet totalling some 2,250 tractor units and over six million square feet of warehousing. Stobart Estates, Stobart Infrastructure and Civils, Stobart Air and Stobart Biomass divisions complete the Group's corporate structure.
www.stobartgroup.co.uk
Enquiries:
Stobart Group | +44 1925 605 400 |
Andrew Tinkler, Chief Executive Officer | |
Ben Whawell, Chief Financial Officer | |
i-nfluence | +44 20 7287 9610 |
Stuart Dyble/James Andrew | |
Square1 Consulting | +44 20 7929 5599 |
David Bick/Mark Longson |