2
Contents
4
Non-Executive Chairman’s Statement
6
Chief Executive Officer’s Report
9
The New Business Structure
11
Chief Operating Officer’s Report
15
Case Studies
23
Corporate and Social Responsibility
25
Developing People, Developing the Business
27
Business Performance Review
33
Risk Management
35
Stobart Group Board of Directors
38
Directors’ Report
41
Corporate Governance Report
44
Directors’ Remuneration Report
48
Independent Auditor’s Report - Group Financial Statements
49
Consolidated Income Statement
50
Consolidated Statement of Comprehensive Income
51
Consolidated Statement of Financial Position
52
Consolidated Statement of Changes in Equity
53
Consolidated Cash Flow Statement
54
Notes to the Consolidated Financial Statements
73
Independent Auditor’s Report - Company Financial Statements
74
Stobart Group Company Income Statement
74
Stobart Group Company Statement of Comprehensive Income
75
Stobart Group Company Statement of Financial Position
76
Company Statement of Changes in Equity
77
Company Cash Flow Statement
78
Notes to the Company Financial Statements