Dec 11th 2012 - Edison Investment Research today published a report on Stobart (STOB.L, LSE:STOB, LON:STOB) entitled "Managing Tough Conditions". In summary, the report says:
Stobart’s interim results highlighted that despite difficult economic conditions, the core transport & distribution delivered a robust performance, while the pace of estates realisations have been impacted. The moves to improve efficiency and operational performance are beginning to come through and are likely to have a greater impact in H2, while strategic progress continues in air. While biomass has been a little slower than anticipated to ramp-up, we feel this shows an upward trend now the government’s renewable obligation certificate (ROC) banding review is complete. A clearer way forward, beneficial to Stobart’s long-term strategy, is now visible. While the short-term outlook for investors remains bumpy, we believe value should be delivered for longer-term investors over the four-year plan.
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