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Wincanton lifts dividend as cost control supports profits

By BFN News | 09:58 AM | Wednesday 13 November, 2019


Logistics company Wincanton reported a 5.3% fall in first-half profit owing to lower proceeds from freehold property sales, though its underlying performance improved. The company said it was continuing to conduct due diligence on potential takeover target Edie Stobart Logistics. Pre-tax profit for the six months through September fell to £28.5m, down from £30.1m on-year. Revenue rose 1.9% to £592.9m and underlying profit rose 9.1% to £26.3m. Wincanton declared an interim dividend of 3.90p per share, up 8.3% on-year. 'We continue to drive efficiency across the business which supports our underlying operating profit,' chief executive James Wroath said. Wroath added that he had started to review opportunities facing the company as part of its wider strategy and would update the market in due course. At 9:58am: (LON:WIN) Wincanton PLC share price was +11.5p at 256.5p Story provided by StockMarketWire.com

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