November 14, 2019 / 7:45 AM / a month ago

Stobart Group suspends dividend as loss widens

Nov 14 (Reuters) - Infrastructure and support services company Stobart Group suspended its dividend to conserve cash and reported a bigger first-half loss on Thursday, hurt by impairment charges.

The company said its loss widened to 20.9 million pounds ($26.7 million) in the six months ended Aug. 31, compared with a loss of 17.5 million pounds a year earlier.

However, it reported a 187% rise in underlying core earnings to 12.1 million pounds, driven by growth in its aviation and energy divisions. ($1 = 0.7815 pounds) (Reporting by Tanishaa Nadkar in Bengaluru Editing by Saumyadeb Chakrabarty)

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