Stobart Group Ltd. (STOB)

Sector:

Commercial Transport

Index:

FTSE Small Cap

17.88p
   
  • Change Today:
      0.020p
  • 52 Week High: 121.84
  • 52 Week Low: 17.80
  • Currency: UK Pounds
  • Shares Issued: 624.93m
  • Volume: 521,872
  • Market Cap: £111.74m

Stobart Group to cut jobs after easyJet pulls out of Stansted, Southend

By Iain Gilbert

Date: Tuesday 18 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Stobart Group said it was cutting jobs after easyJet on Tuesday confirmed it was closing its bases at Southend and Stansted airports.
The company, which provides check-in and baggage handling services at both airports, said it would start consulting on job losses as part of wider cost cuts within the division as it dealt with the impact of the Covid-19 pandemic.

EasyJet has four aircraft based at Southend and will cease operations from both airports on August 31. The budget carrier, which is also closing its base in Newcastle, made the decision in response to a collapse in air travel as it prepares to operate in a smaller aviation market, and blamed government quarantine measures for stifling a recovery in the sector.

Stobart chief executive Warwick Brady said the company was "disappointed" by the easyJet decision, but added that he expected vacant slots left by the airline will be "attractive" to other airlines.

The London-listed group also stressed that it remained confident in its balance sheet, liquidity position and medium-term opportunities for its key strategic London airport assets.

"We expect that this decision will create [a] significant opportunity for other airlines looking to take on established, popular and profitable routes. Though the 2020 Summer and Winter periods will continue to be challenging, we expect passenger demand for short-haul leisure flying to increase through 2021, and we are in active dialogue with airlines regarding their interest in capitalising on these well-established, profitable routes," Brady said.

As of 0900 BST, Stobart shares were down 3.18% at 28.95p.

(Writing by Frank Prenesti. Editing by Michele Maatouk)

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STOB Market Data

Currency UK Pounds
Share Price 17.88p
Change Today 0.020p
% Change 0.11 %
52 Week High 121.84
52 Week Low 17.80
Volume 521,872
Shares Issued 624.93m
Market Cap £111.74m

STOB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
21.91% above the market average21.91% above the market average21.91% above the market average21.91% above the market average21.91% above the market average
29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average29.41% below the sector average
Price Trend
98.74% below the market average98.74% below the market average98.74% below the market average98.74% below the market average98.74% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
52.48% above the market average52.48% above the market average52.48% above the market average52.48% above the market average52.48% above the market average
64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average64.71% above the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 1
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

STOB Dividends

  Latest Previous
  Final 2nd Interim
Ex-Div 20-Jun-19 27-Dec-18
Paid 31-Jul-19 31-Jan-19
Amount 3.00p 1.50p

Trades for 29-Oct-2020

Time Volume / Share Price
16:37 811 @ 17.88p
16:35 21,117 @ 17.88p
16:29 388 @ 17.80p
16:29 20 @ 17.90p
16:29 250 @ 18.00p

STOB Key Personnel

CEO Warwick Brady
COO Nick Dilworth
CFO Lewis Girdwood

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