Stobart Group has reported a busy Christmas in its transport and distribution businesses, as EBIT (earnings before interest and tax) for the final four months of 2013 grew.

In its interim management statement covering the period from 1 September 2013 to today (17 January), it confirmed that all of its businesses are continuing to make steady progress, but conceded that more work needed to be done to achieve its long-term goals.

In order to reduce debt, it also continues to make “profitable investment property disposals”, revealing £85m generated from property sales in its aggregates business since 2012.

Stobart has also reached a deal with its lender to apply proceeds from property sales to reducing its property loans by £64m to £10.9m.

Earlier this month Stobart signed a joint procurement deal with AW Jenkinson Forest Products and Scania, which will supply 1,500 Euro-6 trucks to the two operators.