BRITAIN'S most famous investment manager Neil Woodford has taken a substantial shareholding in Stobart Group.
His investment house, Woodford Investment Management, now holds almost 35m shares in Stobart, representing more than 10 per cent of the issued share capital.
Mr Woodford has long been a fan of the business, buying a 3.9 per cent stake in 2014 almost immediately after he left Invesco Perpetual, where he managed the hugely successful Income and High Income funds, to set up Woodford Investment Management.
Shares in Stobart Group hit 126p last week, the highest they have been since July 2014, buoyed by strong results for the year to February. Underlying profits – setting aside exceptional items – almost doubled £18.4m while turnover was 8.6 per cent higher at £126.7m.
The aviation, warehousing and biomass group, which owns Carlisle Airport, can trace its roots to the 1970s when the business began as an offshoot of an agricultural contracting business in Hesket Newmarket.
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