IMS

RNS Number : 6494P

Wincanton PLC

21 July 2010

 



For Immediate Release

21 July 2010

Wincanton plc

IMS

Wincanton plc ('Wincanton' or the 'Group'), a leading European supply chain solutions provider issues the following Interim Management Statement for the period from 1 April 2010 to the date of this announcement:

In the period since 1 April 2010, the Group's trading results give grounds for cautious optimism with a recovery in customer volumes and of a stronger new business pipeline.

In the period we have secured a number of renewals, including operations for adidas and Shell Gas, plus been awarded significant new contract logistics wins with major high street retailers in the UK and Ireland, and in Europe a major international transport contract for a multi-national electronic goods manufacturer.  We have also created a joint venture with Serco, the leading business-outsourcing provider, to bid for prisoner escort and similar public service contracts.

In our Mainland European business the major German road network restructuring programme is now completed and has started to produce positive trading results, following the closure and restructuring of a number of loss making depots.

We anticipate that the Group will deliver a financial performance in the year to 31 March 2011 in line with our expectations and we are targeting an improvement in underlying operating profit.

Wincanton plc

Graeme McFaull, Chief Executive                                                01249 710 000

Tom Willis, Group Financial Controller

Buchanan Communications

Charles Ryland / Jeremy Garcia                                                  020 7466 5000

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Notes for Editors

Wincanton is a European leader in the design and delivery of advanced supply chain solutions and business outsourcing services.  Its 28,000 people operate across Europe, producing an annual turnover in the year to 31 March 2010 of £2.18bn (€2.47bn) and offer a broad spectrum of services that enable clients to optimise their logistics requirements at local, national or regional level.

Wincanton has a blue chip customer base, leading market positions and a cash-generative business model. In the year to 31 March 2010 the financial performance of the Group proved the resilience of its operations, the breadth and diversity of its activities, and the strength of its contract portfolio.

The Group has three areas of strategic focus; the Mainland European operations which, after the recent restructuring now provide the Group with a stronger and more stable platform for growth across a wide geographical area; the mainstream supply chain service activities in the UK and Ireland; and the new sectors and services which are each targeting profit contribution levels of £10m per annum within the next five years.

 

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