Revenues at Stobart Group increase: The Carlisle support services and infrastructure goliath Stobart Group has seen its revenues increased to £116.6m.
The Group operates in railway maintenance, aviation sectors, and biomass energy. They also have investments in a property and logistics portfolio.
Revenues from operations increased by 18%, but earnings have dropped by 22% to £17.7m. The Group say that they have been helped by giving more value to their two high-growth divisions, aviation and energy.
The Stobart Group won four big major long-term contracts during the last quarter, which will see them provide one million more tonnes of biomass after March 2017.
The Group provided 1.2m tonnes of biomass over the last year, which is up 29% from the previous year.
At London Southend Airport, which the Group purchased the lease to in 2008, passenger numbers were up 9% to 1.1m.
Stobart Group’s Andrew Tinkler said: “We have made good progress with the implementation of the final stage of Stobart Group’s growth and value-creation strategy. We have focused primarily on delivering value in our two high growth divisions of energy and aviation.
“In addition, we have driven external projects in our rail divisions whilst helping develop less mature internal infrastructure assets. Our infrastructure division has also continued to realise value for our mature property assets.”
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