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Stobart Group suspends dividend as loss widens

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By Reuters

(Reuters) – Infrastructure and support services company Stobart Group <STOB.L> suspended its dividend to conserve cash and reported a bigger first-half loss on Thursday, hurt by impairment charges.

The company said its loss widened to £20.9 million in the six months ended Aug. 31, compared with a loss of £17.5 million a year earlier.

However, it reported a 187% rise in underlying core earnings to £12.1 million, driven by growth in its aviation and energy divisions.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Saumyadeb Chakrabarty)