Interim Management Statement and Results of AGM

RNS Number : 3734G

Stobart Group Limited

28 June 2012

 



28 June 2012

STOBART GROUP LIMITED

('Stobart' or 'the Group')

Interim Management Statement and Results of AGM

Stobart Group, issues the following Interim Management Statement - covering the near to 4-month period from the commencement of the new financial year on 1 March 2012 to date - to coincide with its Annual General Meeting ('AGM'), which was held today.

The Group has continued to make progress across all divisions in the current year with the majority of divisions trading ahead of the previous year. The board remains confident on delivering the strategy over the next three years.

The Air division commenced operations from London Southend Airport with easyJet which became fully operational in May alongside a new service with Aer Lingus Regional from Dublin. The airport had serviced 172,000 passengers in the 12 weeks ending 22 June.

The Biomass division experienced modestly lower than expected export volumes during Spring due to the mild weather in Scandinavia but is viewing the start of UK power station contracts in the second half of the financial year as the start of long term volume growth.

The Transport and Distribution division has experienced mixed fortunes since March with the ambient transport and warehousing performing well and witnessing more new business opportunities than in previous years. However, the restructure of the chilled operations, whilst progressing, has resulted in some further costs. The recently announced Recommended Offer for Autologic Holdings plc will add significant revenue to the division and provide an entry into a new market.

In the Estates division opportunities are being pursued at Stobart Park in Widnes where planning for 1.4m square feet of warehousing has been secured. In addition, a number of initiatives are underway with the Moneypenny portfolio and other property assets within the Group.

The main focus of the Civil Engineering division is providing value and support to internal infrastructure and development projects. These include the outstanding developments at London Southend Airport and the expected future developments at Stobart Park.

Stobart Group expects to announce its results for the six months to 31 August 2012 on 25 October 2012.

Details of voting at Annual General Meeting

	Votes in favour	Votes at Chairman's discretion	Votes against	Votes withheld	% in favour incl. Chairman's discretion but excl. withheld votes
To receive the Company's Annual Accounts and the Directors' Report, Directors' Remuneration Report and the Auditors' Report.	286,726,905	191,490	20,911	26,426	99.99
To declare a final dividend of 4p per ordinary share.	286,821,107	138,849	262	5,514	99.99
To re-elect Ben Whawell as a Director.	286,491,922	153,463	288,409	31,938	99.90
To re-elect Andrew Tinkler as a Director.	286,503,316	142,663	292,209	27,544	99.90
To re-elect Rodney Baker-Bates as a Director.	262,274,433	155,463	24,206,044	329,792	91.56
To re-elect Alan Kelsey as a Director.	271,692,018	156,463	14,001,459	1,115,792	95.10
To re-elect Paul Orchard-Lisle CBE as a Director.	270,096,212	153,463	15,592,793	1,123,264	94.54
To re-elect David Beever as a Director.	271,708,161	153,463	13,991,316	1,112,792	95.11
To re-elect Michael Kayser as a Director.	271,867,498	153,463	13,827,379	1,117,392	95.16
To re-appoint Ernst & Young LLP as Auditors of the Company.	269,089,662	142,649	17,720,771	12,650	93.82
To authorise the Directors to fix the Auditors' remuneration.	286,333,560	158,463	471,039	2,670	99.84
To approve the Directors' Remuneration Report.	199,029,575	161,742	38,199,830	49,574,585	83.91
To authorise the Directors to issue shares.	286,604,172	168,671	163,038	29,851	99.94
To disapply pre-emption rights on the issue of shares in the Company.	286,523,201	164,365	244,489	33,677	99.91

ENDS

About Stobart Group

Stobart Group is listed on the London Stock Exchange in the FTSE250 (LSE:STOB). Operating from over 40 sites across the UK and Europe, Stobart Group is a UK front-runner in the multimodal logistics, warehousing, civil engineering, rail infrastructure and biomass fuel sectors. At the core of the Group is the Stobart Transport and Distribution division, incorporating Eddie Stobart - the iconic name behind a huge road haulage fleet totalling some 2,250 tractor units and over six million square feet of warehousing. Stobart Estates, Stobart Infrastructure and Civils, Stobart Air and Stobart Biomass divisions complete the Group's corporate structure.

www.stobartgroup.co.uk 

Enquiries:

Stobart Group	[phone]
Andrew Tinkler, Chief Executive Officer
Ben Whawell, Chief Financial Officer
i-nfluence	[phone]
Stuart Dyble/James Andrew
Square1 Consulting	[phone]
David Bick/Mark Longson

 

END

 

 

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