Bad weather costs Stobart £1.5m

DISRUPTION caused by snow and ice last month cost the transport group Stobart £1.5m.

In a trading statement covering the three months from October 20 the Warrington and Carlisle-based business said it continued to deliver an “excellent service” but the weather had added an exceptional cost.

Overall, the group is ahead of the same period last year and has already hit most of its revenue targets for the next financial year.

It expects growth in revenue and profitability at its transport and distribution operations in the coming months.

Stobart said it had seen strong revenue growth from new business with clients such as Tesco and AG Barr, and its biomass joint venture with Penrith-based AW Jenkinson Forest Products had beaten expectations.

A new railway station is due to open in several weeks at its Southend Airport in Essex and the group has submitted a revised planning application for the development of its airport in Carlisle.

Irish carrier Aer Arann is due to start operating from Southend in March and more routes and operators will be announced soon. Stobart expects to announce full-year figures for the year to February 28 on May 11.