Wincanton reports improvement in profitability – but cost control remains key
1 min read
Logistics provider Wincanton has announced today (11 November) that it has improved profitability thanks in part to a "robust performance" from its UK and Ireland operation. The company also said it has secured a number of contracts which will start in the New Year.
Reporting half-year results to 30 September, the company said sales increased by 2% to £1.102bn compared to £1.079bn for the same period last year, while pre-tax profits rose from £8.9m to £11.7m.
Commenting on the figures, chief executive Graeme McFaull said: "I am pleased with the overall performance in challenging market conditions. Momentum in our new business pipeline is building and we have secured gains in the period across all areas of the group.
"The core UK & Ireland business demonstrated a robust performance and the new sectors and services have continued to progress well."
In Wincanton's European operation, good results from the German business were offset by a poor performance in France.
McFaull added that cost control for the entire organisation will remain a priority: "For the current year we expect the group to continue to trade in line with management expectations. Looking ahead, we face increased pressure on costs and will take the necessary actions to ensure that the group builds a foundation for future profitable growth."
