Stobart Group sees no let-up in tough trading conditions

Stobart Group says it has seen no significant improvement in its transport business’s fortunes, since it warned of tough trading conditions at the end of June.

In a pre-close statement the company, which has just announced it will be increasing its hybrid truck fleet, says the UK recession is dampening growth within transport.

While the majority of the Eddie Stobart transport business has progressed well, the restructuring of the chilled business alongside bad simmer weather has resulted in losses.

Stobart, which completed the acquisition of Autologic on 9 August, says long term expectations for the group remain robust.

It will publish its interim results on 25 October 2012.