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Trading statements

Stobart sees underlying FY results in line with views

07 March 2016 07:35

Stobart Group expects its FY underlying results to be in line with management expectations and ahead of last year, with infrastructure exceeding our expectations.

CEO Andrew Tinkler said

"We have a stable platform for growth in our Energy and Aviation divisions, complemented by profitable realisations from our infrastructure portfolio," he said.

"The Board is focussed on fulfilling the long-term biomass fuel supply agreements that are already in place in the Energy Division and on attracting new operators and passengers through our award-winning London Southend Airport over the next two years. Achieving these targets will create significant value for shareholders.

"We have realised net cash of over £24m from asset disposals in the year. Cash generation from these assets will assist the Group in the payment of dividends whilst the growth divisions mature. The Board will consider further distributions of surplus cash generated on future asset realisations."

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