Stobart lifts profits

22nd Oct 2009 08:36

Transport and logistics group Stobart saw pre-tax profits rise to £12.4m in the six months to August 31 from £11m over the same period the previous year as turnover climbed to £218.2m from £199.2m.'Our half-year results demonstrate stability and performance against a background of economic recession,' said chief executive Andrew Tinkler. 'Volumes are strengthening with new contracts recently signed with Tesco, Nestlé and the launch of new rail services such as the distribution from Valencia to the UK of temperature-controlled fresh produce.'Stobart said it would pay an interim dividend of 2p, which compares with 2.7p at the half-year stage last year.