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Stobart Group chief: ‘Brexit won’t have much of an effect’

Stobart Group Ltd (LON:STOB) tells Proactive Investors that it is “pretty confident” Brexit will not have much of an effect on its largely UK-based businesses.

“With the deflation of the pound I’m sure we’ll find more visitors coming to the UK and using the South-End Airport,” says chief executive Andrew Tinkler.

“We’ll be looking at links with Northern and Eastern Europe,” says Tinkler.

But he says the group was going to be sensible about which connections will work.

“We’ve got to be aware of the ticket, people buy on price. But it’s the efficiency of our service that is so much better, allowing us to compete with other big budget airlines,” he says.

Addressing Thursday’s announcement that the group would be doubling its dividend, Tinkler says that shareholders were undoubtedly happy.

“Our free growth business is a solid platform to grow off allowing us to return over £300mln to shareholders.”

Quick facts: Stobart Group Ltd

Price: 92.1 GBX

Market: LSE
Market Cap: £345.06 m

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on 15/11/19

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