Stobart Group has reported a “satisfactory” start to the year, despite low volumes from FMCG customers in its Eddie Stobart transport and distribution division.
Its first quarter interim management statement today, covering the period from 1 March, the company said it expects volumes in the division to increase over the summer and expectations for the rest of the year “remain in line with forecast”.
Tonnage in its Biomass division, as well as profit and turnover, was ahead of year-on-year expectations, despite disruption from “unexpected” plant outages. It also said it is working to close “a number of projects”, for which its biomass division will be a key supplier.
It added that its search for a chairman is well underway and is currently in talks with some candidates. The group is also seeking potential non-executive directors.
