Stobart delivers the goods despite chaos

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"Despite the current economic climate, we are not experiencing any impact on volumes and are protected in our contracts against fuel-price increases," chairman Rodney Baker-Bates said today.

He even believes business will improve over the coming months: "Indeed, we expect increasing numbers of existing and new customers to look to Stobart to meet their urgent need for more cost-effective solutions to their logistics requirements."

It is the group's first year in its present form it was created by the merger of Westbury Property Fund and Stobart Holdings12 months ago and the firm says there are no directly comparable results. But chief executive Andrew Tinkler reported a "period of sustained growth" in road transport operations and expansion of rail and port businesses.

Revenue from continuing operations was £199.2 million, for a pre-tax profit of £11 million. Fleet utilisation was up to 83.9% from 82.1%, and the past six months saw the first Stobart lorries on Irish roads.

Baker-Bates said the firm was on course for its strategic goal "of becoming the UK's leading provider of multi-modal transport and logistics solutions".

Stobart is busy bedding down the acquisition of James Irlam in April, and expects this to be completed by the end of the year. The interim dividend is 2.7p.