Stobart is still restructuring the former Innovate business it acquired out of administration in 2008 – a process that has been “more challenging, costly and further reaching than first planned”. The admission came as Stobart Group revealed profit rose 10% at its transport and distribution division (Eddie Stobart) to £14.2m in the first six months ended 31 August. This was despite a 5.6% fall in turnover to £251.1m. “We have improved our margins in [Eddie Stobart] through more effective financial […]
Stobart Group has been granted permission for a 374,000 ft² distribution centre as part of its approved planning application to re-develop Carlisle Airport. Andrew Tinkler, Stobart Group chief executive, says: “The freight distribution centre will allow Eddie Stobart to attract new clients while providing the rental income required to develop Carlisle Airport and commence passenger operations.” Stobart bought the airport and associated land in 2009 and has been involved in a long-running battle with local residents to develop the site […]
Stobart Group has completed a sale and leaseback of its DC at Carlisle Airport for £16.9m.
Last week, Dart Group revealed a near to 13% pre-tax profit rise for its transport operation, Fowler Welch. Off the back of this, which saw profit climb from £3.9m to £4.4m for the year ended 31 March 2013 at Fowler Welch, its group share price has continued to move northwards, today leaping to £2.40, up from £2.14 last week.