Stobart to exit rail business after posting bigger loss

(Reuters) - Infrastructure group Stobart said on Thursday it would exit its rail and civil engineering business this fiscal year under a plan to offset a hit from the coronavirus crisis as it posted a steep annual loss due to higher costs.The British company, which has already flagged a need for additional funds to ride out the pandemic, also said it intends to raise 120 million pounds through share sale and additional loans.Stobart has been hurt by a drop in airport traffic due to travel..