Stobart Group has shrugged off recession fears and said the current economic environment was an opportunity rather than a threat and that it expected to meet market expectations for full-year profits.

Andrew Tinkler, chief executive, said that, in spite of the volatile fuel price over the past year and worsening economic prospects that have taken their toll across British industry, Stobart was well positioned to pick up business from new and existing customers under pressure to keep a tight lid on costs while also responding to growing environmental demands.