Stobart Group announces interim results for first six months

EXPD: QUOTE OF THE WEEKVW: MASSIVE JOB CUTSFDXF: FIRST TRADING UPDATE EXPD: MORE BULLISH THAN BEARISHFWRD: HUNTING FOR VALUEFDX: CAPITAL STRUCTURE ADJUSTMENTPLD: DOWN SHE GOESPLD: REIT DEAL-MAKINGFDX: HOLDING UPVW: BIG DIVESTMENTAMZN: AI INVESTMENTMAERSK: ANOTHER UPGRADE GXO: CONTRACT RENEWALFDX: SELL-SIDE REACTION TO INTERIMS

EXPD: QUOTE OF THE WEEKVW: MASSIVE JOB CUTSFDXF: FIRST TRADING UPDATE EXPD: MORE BULLISH THAN BEARISHFWRD: HUNTING FOR VALUEFDX: CAPITAL STRUCTURE ADJUSTMENTPLD: DOWN SHE GOESPLD: REIT DEAL-MAKINGFDX: HOLDING UPVW: BIG DIVESTMENTAMZN: AI INVESTMENTMAERSK: ANOTHER UPGRADE GXO: CONTRACT RENEWALFDX: SELL-SIDE REACTION TO INTERIMS

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Stobart Group Limited, the support services and infrastructure group, today announces its interim results for the six months to 31 August 2015.

Financial highlights

  • Revenue from continuing operations unchanged at £57.6m (2014: £57.6m)
  • Underlying EBITDA up 3.4% to £9.0m (2014: £8.7m)
  • Cash generated from continuing operations increased to £2.3m (2014: £0.6m outflow)
  • Net debt of £51.9m comprising vehicle financing of £29.7m and other debt of £22.2m, giving gearing to equity of 13.2%
  • Underlying earnings per share from continuing operations increased to 1.58p (2014: 0.97p)
  • Proposed interim dividend of 2.0p (2014: 2.0p) per ordinary share

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