Jan 17 British freight company Stobart Group Ltd
expects full-year operating performance to be slightly
below market expectations and said its biggest business,
transport and distribution, continued to function in an
Shares of the FTSE-250-listed company, whose Eddie Stobart
trucks deliver goods to retailers like Tesco Plc, were
down 5 percent at 90.59 pence in early trading.
Stobart said its transport and distribution division, which
makes up about 90 percent of the company's overall revenue,
would be focussed on controlling costs during January and
February, the final two months in its fiscal year.
The company, whose transport and distribution business has
been hurt by a downturn in the retail sector, recently
diversified into airport support services and biomass energy.
Stobart said it would discontinue its underperforming
chilled operation unit, following a review.
The company's stock has lost about 22 percent in value in
the past year.