Stobart warns of a slowdown

The lorries and logistics group Stobart has warned its operating performance will miss expectations this year, blaming the "uncertain economic environment".

Stobart is to close its chilled operation but said its newest venture, the relaunch of Southend Airport, has beaten expectations for its first year, flying more than 600,000 passengers. Stobart also said its transport and distribution division, which brings in about 90 per cent of its revenues, would focus on controlling costs during January and February, the final two months in its fiscal year.