Stobart Group - H119 results boosted by Aviation and Energy

We see investor opportunity in Stobart’s main divisions of Aviation and Energy, which continue to perform well and will benefit from planned investment, notably in Aviation, which should expand the business and drive long-term profitability. Underlying EBITDA grew strongly, up 10% in the first half. Aviation saw a strong rise in both passenger numbers and underlying EBITDA per passenger at London Southend airport, its main business. Energy’s performance has benefitted from higher volumes, a better customer mix, operational gearing and cost management.