Stobart pulled down by chilled operations

Carlisle, UK:  Stobart Group saw off a shareholder rebellion on pay as it announced that most of its divisions are trading ahead of last year. At the group’s annual meeting yesterday, 16% of shareholders either voted against or withheld votes to approve the directors’ remuneration package.

The group had continued to perform well the company said in a trading update covering the period since 1 March, but the restructure of the chilled operations, while progressing, has resulted in some further costs. The transport and distribution division, which includes the Eddie Stobart haulage business, has experienced mixed fortunes. Its ambient transport and warehousing have performed well and seen more new business opportunities than in previous years.

Stobart said its £12.4m deal to buy logistics business Autologic Holdings would add significant revenues to the division.
The group’s estates division has secured permission for warehousing at Stobart Park in Widnes, with plans progressing for other property assets within the group.

At Stobart’s London Southend Airport, easyJet has begun operations and Aer Lingus Regional has introduced services to Dublin. The airport carried 172,000 passengers in the 12 weeks to June 22. Warrington-based Stobart’s biomass division experienced slightly lower export volumes than expected during the spring but anticipates the start of UK power station contracts in the second half of 2012 will herald the start of long-term volume growth.

WORLD NEWS

Boosting the Philippines coldchain

Manila, Philippines: A United Nations-led three-year initiative aims to bring energy-efficient refrigeration to the Philippines and seeks industry contributions for an innovation hub and demonstration …

READ THE FULL STORY >

Hamburg Süd launches remote container management for reefers

Hamburg, Germany: Hamburg Süd has launched a new remote container management (RCM) system for customers to monitor their reefer container shipments. RCM monitors temperature, relative …

READ THE FULL STORY >

NewCold builds coldstore in France

Rennes , France: NewCold has begun construction of another automated coldstore in Montauban-de-Bretagne, near Rennes which at 700,000 cubic metres will be one of the …

READ THE FULL STORY >

CSafe’s opens Memphis service point

Dayton, Ohio, USA: Safe Global has opened a service center in Memphis to support demand for CSafe containers from life-science customers in the mid-south US. …

READ THE FULL STORY >

WHAT’S ON

Latest Tweets

NHS Supply Chain: Food appoints Bidfood as new distribution partner for multi-temperature work: bit.ly/2DqlQXP

© 2019 Global Cold Chain News | Terms of use | Privacy Policy
Commercial Transport Publishing Limited, registered in England and Wales, Company No: 6453302. Registered Office: 6 Corunna Court, Corunna Road, Warwick CV34 5HQ