Stobart: Order book secured for year ahead

North West logistics giant Stobart said the severe weather before Christmas cost it £1.5m but performance this year is ahead of the same time in 2010.

In an interim management statement covering the period from 20 October 2010 said the adverse weather had impacted the busiest trading period of the year but profits remained in line with expectations.

Stobart added: "In addition, we have secured the majority of our revenue expectations for the next financial year."

Highlights of the period since October include revenue from the chilled warehouse for Tesco in Widnes.

In addition a revised planning application has been submitted for the development of Carlisle Lake District Airport, including the relocation of Stobart operations onto one purpose built site.

A Britvic contract commences on 1 February, flights from London Southend Airport begin in March with Aer Arann and Stobart Biomass Products is expected to generate new revenue.

The group will announce its full year results, for the year ended 28 February 2011 on Wednesday 11 May 2011.