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Stobart Group Ltd (STOB.L)

STOB.L on London Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Stobart signs agreement for sale, leaseback of 8 atr72-600 aircraft
Wednesday, 5 Apr 2017 10:28am EDT 

Stobart Group Ltd - : Signed agreement with Goal German Operating Aircraft Leasing Gmbh & Co. Kg for sale and leaseback of its eight ATR72-600 aircraft . Group will receive net proceeds of $62.7 million, after repayment of existing financing in respect of aircraft . leases are for a 10- year term with an option to terminate after six years; aggregate payments under leases to amount to $15.4 million per annum . To continue to operate all 8 aircraft within Stobart Air division, primarily providing flights under Aer Lingus franchise agreement .Completion is scheduled by 14 April 2017.  Full Article

Stobart Group expects underlying results for 2017 to be in line with expectations
Thursday, 2 Mar 2017 02:08am EST 

Stobart Group Ltd : Expects underlying results for year ended 28 february 2017 to be in line with management expectations . Further interim dividend of 3.0p per share which will be paid on 7 april to shareholders .Subject to board approval, a further quarterly dividend payment will be made on 7 July 2017..  Full Article

Stobart says to operate flights from London Southend via Flybe franchise deal
Thursday, 22 Dec 2016 02:00am EST 

Stobart Group Ltd : Announced its decision to operate flights from London Southend airport through Stobart Air's existing franchise arrangement with Flybe . New routes include Budapest, Milan and Venice . Further routes are expected to be added at a later date .12 new European routes are now confirmed, operating through franchise arrangement with Flybe, from May 2017.  Full Article

Stobart says to acquire remaining 33 pct stake in Propius Holdings
Friday, 18 Nov 2016 08:26am EST 

Stobart Group Ltd : Share placing & proposed acquisition . Parties are currently negotiating contracts and transaction is expected to complete during 2016 . Has sold 10,081,778 treasury shares, representing 2.8 percent of company's existing issued share capital, at 155 pence per share . Agreed in principle to acquire remaining 33 pct interest in Propius Holdings Limited from Aer Lingus for a cash consideration of $14.7 mln . Following acquisition of this stake, Stobart will own 100 pct of share capital of Propius . Aggregate consideration for purchase along with associated transaction costs will be funded by a sale to an institutional investor of shares of 10 pence each .Offer at a premium of 1.8 percent to closing mid-market price of 152.25 pence on Nov.17 2016, to raise 15.6 mln stg before expenses.  Full Article

Stobart H1 pretax profit 10.8 mln stg versus 600,000 stg
Thursday, 27 Oct 2016 02:00am EDT 

Stobart Group Ltd : H1 pretax profit 10.8 million stg versus 600,000 stg year ago . H1 revenue from continuing operations rose 13 percent to 65.3 million stg . First quarterly dividend of 3.0p per share paid in october . Expect majority of new plants to open on time in 2017, allowing us to deliver our target of 2 million tonnes per annum by 2018 . Full year results for Stobart Energy are expected to be in line with management expectations .Energy division expects to achieve its strategic target of generating ebitda of £10 per tonne of biomass fuel supplied during period.  Full Article

Stobart signs contract with Environment Agency
Wednesday, 12 Oct 2016 05:49am EDT 

Stobart Group Ltd : Stobart contract agreement with environment agency . Has entered into an initial one-year "major incident response" contract with environment agency . Under contract, co will be working together with environment agency delivering resilience to defend communities threatened by flooding . Contract will be managed by stobart rail using logistics expertise across group .Will assist with logistics, storage and transport requirements with a flexible 24/7 response for an initial 12 starting n 30 sept 2016.  Full Article

Stobart appoints Mark Adams as CFO
Wednesday, 28 Sep 2016 02:00am EDT 

Stobart Group Ltd : Appointment of chief financial officer .Announce the appointment of Mark Adams as chief financial officer ("CFO") with effect from 28 November 2016..  Full Article

Stobart says CFO Whawell to be CEO of energy division
Friday, 8 Jul 2016 05:04am EDT 

Stobart Group Ltd : Ben Whawell, who has been group's chief financial officer for nine years, will become chief executive officer of Stobart's energy division . Energy division is expected to see strong growth over next two years .Recruitment of a new chief financial officer for group is well advanced.  Full Article

Stobart Group considers larger, more frequent dividends
Thursday, 30 Jun 2016 02:00am EDT 

Stobart Group Ltd : Are on track to deliver our strategy by 2018 and drive shareholder value . Board to review dividend policy and propose an improved dividend as set out below . "Our target is to supply over 2.0 million tonnes per year of biomass fuel and grow EBITDA to 10 stg per tonne by 2018" . Rail: "Our target is to grow business by 20 pct per annum by 2018 and we have a strong order book in place" .Aviation: "Our target is to grow passenger numbers at London Southend airport to over 2.5 mln passengers per year and deliver 8 stg EBITDA per passenger by 2018".  Full Article

Stobart FY revenue from cont ops rises 8.6 pct
Thursday, 12 May 2016 02:00am EDT 

Stobart Group Ltd : FY revenue from continuing operations up 8.6 pct to £126.7m (2015: £116.6m) . FY underlying profit before tax increased by 98.0 pct to £18.4m (2015: £9.3m) . Total dividend 6 penceper share . Final dividend 4 penceper share .On track to deliver our strategy by 2018 - CEO.  Full Article

More From Around the Web

Stobart buys stake in aircraft leasing firm from Aer Lingus

DUBLIN, Nov 18 Stobart is buying the 33 percent it does already own in the firm that leases planes to its Stobart Air subsidiary from Aer Lingus for 14.7 million euros ($15.6 million), the British freight company said on Friday.