Stobart bosses pocket £5m

published 7 August 2009

Two directors at Stobart walked off with a combined total of £5m today as they trimmed their stakes in the transport and logistics group.

Chief executive Andrew Tinkler sold 3.65m shares at 100p a time and now about 30.5m shares, just over 12% of the company.

William Stobart, chief operating officer and son of the company's founder, took 1.35m for the same price, leaving him with about 11m shares.

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Shares in the company have performed well in the past year, climbing more than 20% against a backdrop of generally depressed markets.

The firm has been moving into areas other than road haulage, such as shipping and rail transportation.

In June it said it is performing 'satisfactorily' despite the challenging economic environment.

It made a good start to the year, successfully completing the acquisition of Carlisle Lake District Airport.

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