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Wincanton trading in line with expectations

By BFN News | 07:23 AM | Thursday 05 April, 2018


Wincanton, the logistics company, has confirmed that full year results for the year ended 31 March 2018 will be in line with expectations. The group said that within the Retail and Consumer division, it has maintained the strong operating performance seen in the first half of the year, with good volumes and an excellent performance during the Christmas peak. New business wins in the second half of the year have included contracts with Wickes, part of the Travis Perkins Group, to manage its delivery of bulky goods to customers, and Ikea, to provide two-man home delivery services across the South East of England. Contract renewals have included an extension of logistics activities with Pernod Ricard UK. In the second half of the year, the Industrial and Transport division has made good progress in repositioning the business and reducing its cost base, and, as a result the group has exited some contracts in transport services and construction. Contract wins for the division in the second half of the year included the provision of Ready Mix Cement logistics to Aggregate Industries and the renewal of our fuel distribution contract with Phillips 66. The group will incur an exceptional restructuring charge in the year. The group's closing net debt is expected to be approximately £30m. Story provided by StockMarketWire.com

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