3 Oct 2019 07:00
For immediate release | 3 October 2019 |
WINCANTON PLC
("Wincanton" or the "Group")
Trading Update
and
Notice of Results
Wincanton, the largest British third-party logistics company, today issues the following trading update ahead of its half year results for the six months ended 30 September 2019.
The Board continues to expect results for the financial year to 31 March 2020 to be in line with market expectations.
Wincanton has secured good levels of new business in the first half including a five-year deal with Morrisons plc for the provision of transport and vehicle maintenance services. In addition, a number of contracts with existing customers have been renewed including adidas, Williams Sonoma and Cormar Carpets.
The Group disposed of two freehold properties during the half year for gross proceeds of £5.5m. An exceptional profit of approximately £2.0m will be reported in the first half in relation to the sale of these properties.
The Group's net debt at 30 September 2019 is expected to reduce to approximately £15m.
The Group will announce its interim results for the six months ended 30 September 2019 on Wednesday, 13 November 2019.
For further information, please contact:
Wincanton plc Tel: 01249 710 000
Tim Lawlor, Chief Financial Officer
Buchanan (Financial PR) Tel: 0207 466 5000
Richard Oldworth
Victoria Hayns
wincanton@buchanan.uk.com
Notes to Editors
Wincanton plc
Wincanton is the largest British third-party logistics company (3PL), providing supply chain solutions to some of the world's most admired brands across a wide range of industries including retail, construction, defence and energy.
As a trusted and respected business partner, we design and implement services and solutions that range from setting up and operating distribution networks through to bonded warehouses, technology hosting, container transport and storage. We strive for operational excellence in everything we do.
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. Our customers rely on us to make their businesses operate more efficiently and to gain a competitive advantage in their sector.
Improved stock visibility and availability, reduction of lead times, 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 more than 20 years.
Key facts:
·; Annual revenue in the UK & Ireland exceeds £1.1 billion
·; Over 18,000 colleagues including 4,600 drivers
·; Operates from 200+ locations with 14.3 million square feet of warehousing across the UK and Ireland
·; Operating responsibility for around 3,600 vehicles