Update: Positioning and growing
Stobart announced its pre-close statement ahead of interims due on 23 October. The statement highlighted that further volume growth continues to be witnessed in the key Biomass and Air divisions, while progress in deploying investment into green energy projects is anticipated over the coming six months. With further property disposals achieved and planning permission obtained for Carlisle Airport, Stobart aims to further develop the infrastructure division, while the previously partially disposed Transportation Division (49% holding) is performing to plan. Overall, we feel the statement is positive and we maintain our full year forecasts.Stobart Group is a U.K. infrastructure and support service business and has investments in a national property and logistics portfolio. Co.'s operating segments are: Stobart Energy, which supplies sustainable biomass for the generation of renewable energy; Stobart Aviation, which operates commercial airports, airline operations and leases aircraft; Stobart Rail, which delivers internal and external civil engineering development projects; Stobart Investments, which holds a non-controlling interest in a transport and distribution business; and Stobart Infrastructure, which focuses on management, development and realization of property assets and investments in biomass energy plants.
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