Stobart Group issues pre-close trading statement

Juliette O'Neill
By Juliette O'Neill September 9, 2016 09:14

Stobart Group issues pre-close trading statement

Stobart Group has revealed in a pre-close trading statement prior to the announcement of the interim results for the six months to 31 August 2016, which is expected to be made on 27 October 2016, which states that all growth operating divisions are “performing in line with expectations whilst our infrastructure division has exceeded expectations”.

Stobart aims to grow passenger numbers at London Southend Airport to over 2.5 million passengers per annum and deliver £8 EBITDA per passenger by 2018. As reported in the AGM Statement in June, London Southend Airport’s management team is in advanced talks with a number of low-cost carriers and full service operators, who want to take advantage of the airport’s access to London capacity at peak times. These talks are progressing well, says Stobart.

In the six months to 31 August 2016, like-for-like passenger numbers were broadly in line with the prior year, with on-time performance and load factors continuing to outperform airline targets.

Stobart is currently recruiting a new Chief Financial Officer, and promises to make a further announcement in the near future.

Juliette O'Neill
By Juliette O'Neill September 9, 2016 09:14