Wincanton targets defence sector

Looking at potential new growth areas, Wincanton said they included the defence sector where fundamental supply chain changes were underway as Government agencies were actively considering greater outsourcing and changes in procurement processes that require major manufacturers to provide equipment on the basis of 'contracts for availability. With a track record of successful management of major procurement programmes and a strong customer base among the leading sector manufacturers, Wincanton was "extremely well-placed to benefit from these changes". Major wins and renewals in the year included contracts with BAE Systems, AgustaWestland and the Aircraft Carrier Alliance, adding to existing operations for other groups such as Thales, General Dynamics, Rolls Royce and VT Group. A further sign of progress in this area was the Framework Procurement Agreement now in place with BAE Systems making Wincanton a preferred logistics provider. Wincanton chief executive Graeme McFaull said:"Wincanton has produced a robust performance through the recession, proving the quality of its operations, the strength of its customer partnerships and the cash-generative nature of its business model. We look to the future with confidence, with leading positions in growth markets and focused on driving returns from our significant investment in new sectors and services". Revenue for the year was £2.18 billion, down 7.6% on last year's £2.36 billion while pre-tax profit amounted to £3.0 million (2009: £20.0m) down 85.0%.