Stobart on right road despite rise in fuel price

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

Stobart Group said profits will rise this year despite the soaring cost of fuel which has been driven up the record oil price.

Lorry drivers have been protesting at the spiralling cost of fuel and recently brough west London to a standstill with a demonstration on the Hammersmith flyover. A litre of diesel now cost more than 130p.

But Stobart chief executive Andrew Tinkler today told shareholders: "Despite the continued speculation of an economic slowdown and rising fuel prices, the group continues to trade in line with management expectations."

He said he was confident profits will grow this year as the firm passes on the higher cost of fuel to its customers by charging them more.

Stobart has also moved into rail as it looks to use less fuel and cut costs and the "wasteful empty miles" so many of its trucks make.

It recently signed a £15 million contract with Tesco to transfer goods around Scotland by rail as the supermarket chain tries to reduce its carbon footprint.

This year it bought James Irlam & Sons and WA Developments, which is now called Stobart Rail and is performing "ahead of expectations," according to Tinkler.