28th Aug 2015 08:15
LONDON (Alliance News) - Infrastructure and support services company Stobart Group Ltd on Friday said its biomass supply volumes were slightly lower in the first five months of its financial year, while passenger volumes from its contract to run London Southend Airport fell.
Stobart said its biomass volumes supplied in the five months to the end of July were broadly flat year-on-year, despite some temporary power plant shutdowns caused by unscheduled maintenance and significant operational issues caused by the delays which hit Eurotunnel.
Its margin-per-tonne in the business is significantly higher year-on-year, however, thanks to higher volumes from long-term contracted customers in the UK and better production efficiencies.
For its contract to run London Southend Airport, the company said passenger numbers fell by 99,000 to 41,000 in the first five months, in line with guidance the company gave in June due to low-cost carrier easyJet PLC considering options on how to optimise capacity for the routes it currently operates from the airport.
"We have continued to focus primarily on delivering value in our two high growth divisions, Energy and Aviation, and we continue to build the infrastructure and relationships to meet our targets in these markets," said Stobart Chief Executive Andrew Tinkler.
Shares in Stobart were up 0.9% to 111.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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