After receiving approval from the local council this week for its plans for a runway extension at the Southend Airport, transport group Stobart is awaiting a swift decision from John Denham, the secretary of state for communities and local government, so the project can get under way as soon as possible.
The transport giant that ventured into aviation through its acquisition of Southend Airport in December 2008, in a deal worth £21 million, hopes for a decision by February end so that the airport would be ready in time to receive visitors for the London 2012 Olympics.
Stobart is best known for its Eddie Stobart road haulage that employs the green and white lorries, a common sight on the English motorways. The transport and logistics company says that all its profit targets are on track with a boost in the railways sector, although revenues from the road transport remained static.
According to analyst Mike Stoddart at Daniel Lewis, "The impression we get from the interim management statement is that the mix of the 2010 result will be different from our forecast - with a higher proportion of profits from the rail civil engineering business and a smaller proportion from the road transport and warehousing operations".
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