Stobart Speculation

[Humberside]

Interesting article on Stobart Group, in which an analyst states:

He added: “I’m conscious that the prospect of a portfolio rationalisation is likely to have a beneficial effect on the share price.” That means that Stobart could put some of its assets up for sale, including anything from under-performing parts of the transport business to London Southend airport and Carlisle Lake District airport.

www.commercialmotor.com/latest-news/is-stobart-group-feeling-the-strain#.USMp6Gf083w

Seems to be pure speculation, but perhaps nothing is off the table as Stobart try to become focused in their activities

[devonian]

Why would they sell SEN when they've just invested £100 million in it? Surely they need to wait a few years? I can't understand why they bought Aer Arann though - and they won't get a good price for that. Maybe Carlisle Airport is a loser too.

If they suddenly cease work on the terminal extension at SEN, I'll start to believe it.

[expressflight]

devonian

I agree with your analysis.

'Speculation' is a very appropriate title to this subject.

[Humberside]

Stobart "as committed as ever"

SOUTHEND Airport will not be sold to balance the books, its owners have vowed.

Stobart Group, which has ploughed more than £100million into the airport’s regeneration, has said it will not consider cashing in on the asset to soothe its strained finances.

The company is thought to want to sell several parts of its empire, after warning shareholders it would not generate as much profit as expected this year.

But in a statement issued to the Echo, Stobart said it was “as committed as ever” to Southend Airport.

The statement added: “Southend Airport, and the substantial Stobart Group investment in its development, has resulted in an outstanding success story.

“This summer we will reach the first million passengers through the airport since its redevelopment.

“New routes continue to be announced and the airport benefits business and the region as a whole on the back of its success.

“Stobart Group is very proud of Southend Airport and is as committed to it as ever.

www.echo-news.co.uk/news/10244401.Southend_Airport_will_not_be_sold__owners_vow/

[Thames Gateway]

More happenings from the boardroom -
www.ft.com/cms/s/0/c478b982-63d0-11e2-af8c-00144feab49a.html#axzz2POdAycS7

Interesting that the share price over the last year has resulted in them leaving the FTSE 250.

It will be interesting to see the full year figures/report in May.

[expressflight]

Well, that's a real about-face by the Board.

I thought Ms Palmer-Baunack was appointed Executive Chairman to sort things out. I looks as if the Board decided to snap the new broom in half and throw it in the bin. Perhaps her proposed solutions were simply too radical.

[tagron]

I wonder just how accurate is that comment in the ft.com article to the effect that Invesco wanted Stobarts to sell off peripheral businesses and concentrate on being a haulier - the implication being that the aviation assets could be for sale.

It seems that within the same time frame that Invesco, as Stobarts largest investor, were organising the appointment of Ms Palmer-Baunack, they were joining with Stobarts in the buyout of Aer Arann, to the extent that Stobarts and Invesco now each own 42% of Aer Arann. This would suggest to me that Invesco have confidence in Stobart's aviation investment policy. But who knows what is really going on ?

[Thames Gateway]

Annual results due out thursday, should be interesting to see what the accompanying message from the board is.

[expressflight]

Well, there is an interesting item within the annual report published this morning.

In the section discussing their increased shareholding in Aer Arann it says:

"Our next phase is to use the airline to start new routes out of LSA with focus on Sprng 2014".

[devonian]

Maximum capacity five million pax per year...... ?

[Thames Gateway]

May 16, 2013 8:47:08 GMT devonian said:

Maximum capacity five million pax per year...... ?

Why not, with some judicious scheduling? London City does over 3 million from a very small site, and have plans for 8 million.

[Thames Gateway]

Seems like Alastair Welch is moving on from the end of July:
www.echo-news.co.uk/news/10557441.Southend_Airport_boss_quits/?ref=mr

[devonian]

Well, my grateful thanks to Mr Welch for achieving so much more than I ever imagined was possible at SEN. Best wishes to him in his new role, whatever that may be. Perhaps he can create a viable airport at Oxford or Manston....?