Stobart Group maintains steady growth

Support services firm Stobart Group has seen its revenue and profits remain steady in the six months to August 31, with its Energy and Investments divisions showing the strongest growth.

The Cheshire-based logistics company reported 3.4% year-on-year growth in its Underlying EBITDA, which rose to £9m, while underlying profit before tax rose from £4.4m to £4.6m.

Stobart Group’s overall revenue from continuing operations, meanwhile, remained at £57.6m, which was the same figure reported in 2014.

Profits from the firm’s Energy division grew by £1.3m to reach £4.1m, although profits fell across Stobart Group’s Aviation and Rail divisions by £1m and £300k respectively. Profit growth was highest in its Investments division, doubling year-on-year to £6.4m.

Andrew Tinkler, the company’s chief executive, said of the results: “We have continued to focus primarily on delivering value in our two high growth divisions of Energy and Aviation, and we are progressing well with building the infrastructure and relationships to successfully develop these businesses.

“Our other divisions are performing well with a strong order pipeline in the Rail division, growing profitability in Investments and realising cash from property sales.”

He added: “In line with our commitment of driving shareholder value, we returned £13.1m to shareholders in dividends in the period, and we have the foundations in place to deliver on our strategic goals.”

On August 31, the book value of the Stobart Group brand was £54.4m.