Stobart Group is considering runway improvements at Carlisle Airport as it gears up to start scheduled passenger flights next year.

The company laid out its plans this week as it reported pre-tax profits of £0.6 million for the six months to August.

Its report to shareholders says: “Consideration is being given to the development of airport assets including runway improvements, and proposed new routes at Carlisle Lake District Airport.

“We have been shortlisted for route support on our proposed networks.”

The results cite the completion of the new air/freight distribution centre at the airport as one of the operational highlights of the period.

The Government announced in August that routes from Carlisle to London Southend, Dublin and Belfast were among 15 shortlisted to get funding from a £56m pot to support new services from smaller regional airports.

To secure the money, Stobart will have to convince the Department for Transport that the routes will be viable once the three-year subsidy ends. 

Stobart's half-year profit of £0.6m compares with an £8.6m loss in the same period last year.

And the company says its underlying profit before tax – ignoring one-off items, principally a write-down on the value of brands – climbed from £4.4m to £4.6m.

Turnover was unchanged at £57.6m, as is the interim dividend at 2p.

Net debt climbed from £19.1m to £51.9m as it invested for future growth.

Chief executive Andrew Tinkler said: We have continued to focus primarily on delivering value in our two high-growth divisions of energy and aviation.

“We are progressing well with building the infrastructure and relationships to successfully develop these businesses.

“Our other divisions are performing well with a strong order pipeline in the rail division, growing profitability in investments and realising cash from property sales."

He added: “In line with our commitment of driving shareholder value, we returned £13.1m to shareholders in dividends in the period, and we have the foundations in place to deliver on our strategic goals.”

Stobart Group can trace its roots to the 1970s when it began as an offshoot of an agricultural contracting business in Hesket Newmarket.

It sold a majority stake in the Eddie Stobart road haulier business last year, but retains a 49 per cent holding and rights to the brand. Eddie Stobart Logistics contributed £6.1m to profits over the period.

Stobart's energy division, supplying biomass fuel to power plants, was also a strong performer although the company says it was affected by the European migrant crisis, which “impacted on export volumes by road due to the significant standing times of trucks and drivers in the Eurotunnel area”.

It signed two long-term fuel supply agreements during the period and is set to beat its target of supplying 2m tonnes of biomass fuel per annum by 2018.

The aviation division, which operates Carlisle and Southend airports, saw the appointment of Glyn Jones as chief executive and Jon Horne as chief operating officer.

It says Southend is in a strong position to benefit from a lack of runway capacity at other London airports.

The period saw easyJet add three routes from Southend while the Slovenian airline Adria Airways started flights to Maribor.

Stobart Rail has a “strong order book” of £61m for rail infrastructure work and has also won a £4.7m contract to install an all-weather track at Newcastle Racecourse.