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London Southend airport owner Stobart Group sees profits rise

Economy
Jennifer Morris
28 October 2016

London Southend airport owner Stobart Group has seen a sharp rise in profits.

Southend airport in Essex is an hour from London by train

(Credit: Esken)

The group made £10.8 million before tax in the six months to August, up from £0.6 million in the same period last year, the News and Star reports.

Underlying profits rose 252% from £4.6 million to to £16.2 million and turnover was 13% higher at £65.3 million.

Chief executive Andrew Tinkler said: “Stobart has continued to work towards delivering its clear targets for its three growth divisions – energy, aviation and rail.”

He said that the company was pleased to be working with Irish airline CityJet to add new flights at the group’s London Southend airport.