Stobart (LON:STOB) - Short-term challenges remain

Jan 25th 2013 - Edison Investment Research today published a report on Stobart (STOB.L, LSE:STOB, LON:STOB) entitled "Short-term Challenges Remain". In summary, the report says:

Stobart’s IMS has demonstrated that the challenging conditions in the chilled business have continued. Management has decided to discontinue this as a standalone business and will wrap it into its wider transport and distribution network, which will focus on cost control in the quieter year-end period. Development continues apace in Air with additional costs incurred on infrastructure and training, due to the quicker than expected ramp-up, to benefit from the rapid expansion in traffic. Encouragingly, Biomass has performed well over the period and with development continuing in Estates, the group is building on these important value opportunities. The short-term focus is clearly on managing performance in the current environment while building medium-term value. We reduce our short-term forecasts to reflect...