I beg to disagree with you - although I hope you were right-as they are looking for 4 Depot Managers at existing Depots.Either the former Managers were not qualified for the job-which is bad-or the Managers were dissatisfied with their Jobs -which is equally bad.Perhaps the lavendon Drivers aren't happy with thei new employer either.Anyway this bodes ill imo.
I think there are lingering fears that wages have gone up too fast as a consequence of a driver shortage.The pay rise could have been kept in check if they hadn'T PASSED ON LOWER FUEL COSTS:aLL THE BENEFITS SEEM TO BE FOR THE CUSTOMERS:AFTER ALL THEY COMPLAINED ABOUT MARGIN PRESSURE IN THE PULLMAN DIVISION AND i FEAR THAT THE PROBLEM WILL SPREAD TO THE OTHER DIVISIONS TOO
Small-cap haulier Wincanton has been enjoying a steady turnaround that has seen the shares gain almost 18% during the past six months. That said, the company remains on target to hit market expectations for full year pretax profits of £27.7 million, giving earnings per share of 17.9p, on revenue of £1.1 billion. The haulage and logistics group is well diversified, with 12% of sales coming from construction, 13% from petrol tankers, 15% fast-moving consumer goods, 25% groceries, 25% general merchandise. The balance comes from other haulage. Wincanton’s shares are up 21% since we recommended buying last year (Buy, 138.75p, July 19), and trading on 10 times forecast earnings, they remain good value. Both companies are logistics operations with revenue of about £1 billion, and both manage large fleets of vehicles to transport goods from A to B. Applying Ocado’s valuation multiple to Wincanton’s forecast earnings would increase the company’s vlaue from about £200 million to £2 billion. Questor thinks one of these valuations is closer to reality and would rather buy the cheaper option at Wincanton, and hold the shares for the long term and wait for the steady profit recovery. Wincanton at 172p-6.9p. Questor Says “Buy”.
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