Wincanton PLC
20 September 2007
For immediate release 20 September 2007
Wincanton Plc
('Wincanton' or 'the Group')
Pre-Close Trading Update
Wincanton today issues the following pre-close season trading update for the six
months ending 30th September 2007.
The strong new business momentum reported in our last financial year has been
sustained in the first half of the current year.
In the UK & Ireland, contract gains have been recorded in all sectors. New
customers such as The Adidas Group, Gallo and Tragus have been added to the
portfolio. Business has also been expanded with existing customers such as B &
Q, Comet, Dunnes and Sainsbury's. Woolworths, another existing customer, has
awarded new business to our recently-acquired home delivery network. The other
UK acquisition made last year, which established a leading position for us in
the construction sector, also performed well, with incremental volumes from a
number of existing customers. Our portfolio of ancillary services continues to
make good progress. Our recycling business, for example, has had a very
encouraging start to the year, with substantial additional volumes already
having been secured from a number of local authorities and a good pipeline of
further opportunities.
New business momentum also continues to build in our Mainland European
operations with contract gains in all countries. Additional business, into our
transport networks and warehousing facilities, included wins with Exxon and
Alcatel in Germany, Jardiland, Velux and EDF in France, and Auchan, Electrolux
and OBI in Poland. Our international transport hub in the Netherlands added new
business with Akzo and Ciba-Geigy.
Given the continuing high levels of new business activity across the Group we
currently anticipate that results for the full year will be in line with
management expectations.
As recently announced, the PGN arbitration process has been settled in favour of
Wincanton and its joint venture partner. Quantification of recovery of unpaid
debts and damages for lost profits is under assessment, and receipt of monies
awarded is expected in the current financial year.
Graeme McFaull, Wincanton's Chief Executive commenting on the trading update,
said: 'We continue to be encouraged by the current performance of the Group.
Further excellent progress is being reported by our operations in the UK &
Ireland and we are building on stronger foundations in Mainland Europe'.
For further information please contact:
Wincanton plc 01249 710 000
Graeme McFaull, Chief Executive
Gerard Connell, Group Finance Director
Buchanan Communications 020 7466 5000
Charles Ryland / Jeremy Garcia
This information is provided by RNS
The company news service from the London Stock Exchange
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