AGM Statement

RNS Number : 7846E

Wincanton PLC

21 July 2016

 

For Immediate Release                                                                                                                                         21 July 2016

Wincanton PLC

('Wincanton' or the 'Group')

AGM Statement

Wincanton, a leading provider of supply chain solutions in the UK & Ireland, will hold its Annual General Meeting today at 11 am at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN, at which Steve Marshall, Chairman, will make the following statement:

The Board confirms that Wincanton continues to trade in line with expectations.  In the period since the year end, we have secured further significant contract renewals, including the renewal of a distribution contract with Sainsbury's for up to 5 years.

The impact of Britain's decision to leave the EU will be closely monitored by the Board as the political and economic consequences become clearer in the coming months.  As a strong UK and Ireland focused business, we deliver and support the everyday needs of those living in the UK and Ireland from the distribution of food, clothes and furniture to building materials, milk and fuel.  Wincanton has a diversified customer base which spans large sectors of the UK economy, the majority of our contracts are open book and we are not directly exposed to foreign currency movements in our business.  We are a large multicultural and multinational employer and we will continue to value the development and retention of all our colleagues from all nationalities.  Wincanton is a resilient and innovative company with over a 90 year history and we are confident that we will successfully navigate through any changes arising from the referendum result. 

As set out in our Full Year results, we are proposing the reintroduction of dividend payments with a final dividend for the year of 5.5p payable to shareholders on 5 August 2016 proposed at today's AGM. We anticipate this to be the start of a progressive dividend policy with annual growth broadly matched to the future growth in underlying earnings of the business.   

ENDS

For further information please contact:

Wincanton plc                                                                  Tel: [phone]

Adrian Colman, Chief Executive Officer

Tim Lawlor, Chief Financial Officer

Buchanan                                                                            Tel: [phone]

Richard Oldworth, Victoria Hayns, Jane Glover

Notes to Editors

Wincanton plc - the smarter logistics partner

From kitchen equipment and wallpaper, through to groceries, tiles, bricks, clothing and diesel... almost everything that's bought for the home and workplace passes along a complex supply chain. In many cases that supply chain will be operated and managed by Wincanton.

Our customers, who include some of the world's most admired brands, rely on us to make their businesses operate more efficiently and to gain a competitive advantage in their sector.

As a trusted and respected business partner, we design and implement logistics services that range from setting up and operating distribution services and networks through to bonded warehouses and technology hosting, container transport and storage and records management.

Improved stock visibility and availability, reduction of lead times, operational excellence, collaborative warehousing and transport models, and an absolute commitment to continuous improvement, are just some of the reasons why many of our customer relationships extend to over 20 years.

With in-depth sector knowledge and insight, we cover a wide range of markets including retail, consumer goods, construction, dairy, defence, records and data management, industrial, fuels and energy. We work hard to understand and respond to our customers' needs, build long term relationships and use our skills and expertise to deliver a smarter, added value service, every day.

Key facts:

·     Annual revenue in the UK & Ireland exceeds £1 billion

·     Circa 18,000 employees including 4,000+ drivers 

·     Operates from 200+ locations with 13 million square feet of warehousing across the UK and Ireland

·     Operating responsibility for around 3,600 vehicles

 

END

 

 

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