Stobart’s interims mark the next stage in demonstrating progress towards its 2018 strategic targets while maintaining underlying EBITDA (+3%). The partial disposal of the transport division in 2014 allowed the group to significantly strengthen its balance sheet and flexibility to finance its more embryonic businesses. In this context, we view the increase in debt as short term and reflective of certain project timings that help long-term value creation. Whereas tangible progress can be
05 Nov 2015
Energy wastes no time, Aviation in holding pattern
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Energy wastes no time, Aviation in holding pattern
Stobart’s interims mark the next stage in demonstrating progress towards its 2018 strategic targets while maintaining underlying EBITDA (+3%). The partial disposal of the transport division in 2014 allowed the group to significantly strengthen its balance sheet and flexibility to finance its more embryonic businesses. In this context, we view the increase in debt as short term and reflective of certain project timings that help long-term value creation. Whereas tangible progress can be