Member Article

Stobarts take a turn for the worse

Warrington-based logistics group Stobart have been impacted by the recession, as reported in its pre-close trading statement today.

The group famous for its Eddie Stobart trucks said that the current climate had consistently damaged growth in its transport sector, but remained confident of resilience in the business.

Stobart put poor performance in its chilled sector down to the bad weather conditions across the UK this summer.

Extreme storms and rain resulted in some losses for their chilled fleet, however Stobart advised that current restructuring will rebuild this part of the organisation to create a more “robust and streamlined business for the future.”

In the Air Division, passenger numbers with easyJet and Aer Lingus showed continued growth, as London Southend Airport served approximately 250,000 passengers in the quarter up to the end of July. The airport also gained planning permission to extend the passenger terminal.

Share prices were down by 2.7% at 115.9 pence today after investors heard that the recessionary climate was impacting business.

This was posted in Bdaily's Members' News section by Miranda Dobson .