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Wincanton forecasts 'significant' profit beat as demand recovers

By BFN News | 09:42 AM | Wednesday 22 July, 2020


Logistics company Wincanton said it expected its annual underlying profit to be 'significantly' above current market forecasts of not less than £30m. The company had continued to see a steady recovery in trading since reporting its preliminary results on 17 June, chairman Martin Read said in AGM speech notes. There have been improved levels of demand across most of the business, Rad said, particularly in home delivery operations and eFulfilment. Volumes in some areas, however, including construction and fuel distribution, remained below prior year. Read said the profit upgrade followed 'a combination of our strong new business performance, early cost intervention measures and the recovering economy'. The guidance assumed there was no further Covid-19 impact that severely reduced its volumes from current activity levels, he added. At 9:42am: (LON:WIN) Wincanton PLC share price was +16.75p at 188.5p Story provided by StockMarketWire.com

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