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Plenty of buys at 438.5p - for ~3%
So what price per share are they going to pay
I initially though 'brilliant' and then looked at the price history. It was 454p on the 21st May 2021 and I though things had been going better since then. So CEVA are probably well happy to pay this price - and I am thinking it's not so brilliant - but then again as with banks and telecoms this gov or a regulator might step in any minute and say all lorries need to be run on hydrogen by next year and customers/public need to be compensated for the last 15 years for pollution.
There are reasons to celebrate but yet another UK logistics company is about to be taken out relatively cheaply. Now we know why the promised share buyback did not commence as it would have made the takeover that management were discussing look less attractive as the share price following the buyback would have been higher due to the low liquidity. After clawing back the pension fund deficit last year I feel management could have held out for a higher offer as Wincanton is now a much more desirable proposition.
I didn't notice Wincanton at the top of my portfolio view this morning. Had to do a double take. Then boom. Love days like this! Good offer. 3% to be gained by holding out or take the profits. Money in the bank... Newmark Security next, then I can retire....
Very nice for lths
Https://www.thisismoney.co.uk/money/investing/article-12790047/MIDAS-SHARE-TIPS-Logistics-firm-Wincanton-deliver-returns.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html&_ga=2.59716709.919244509.1700946689-829466088.1679172563&_gl=1*bckw6p*_ga*ODI5NDY2MDg4LjE2NzkxNzI1NjM.*_ga_XE0XLFFF16*MTcwMDk1MDU3MC40NC4xLjE3MDA5NTA1NzMuMC4wLjA.
Wincanton has this week lost the contract with suntroy - the maker of ribena and lucozade in Gloucester and Coleford
Free cash will rocket now compared to previous projections. Should be over 300p on this news but will will be ahead as cash drives stocks and this is a very material upgrade. Well done.
Indeed a massive boost! The whole UK market with DB liabilities will surely be announcing similar positions in the coming months. The whole market could take off. I hope Wincanton is reviewing it's options around bulk DB transfer so we can get the liabilities risk gone for good.
Game changer.
Will materially re/rate ahead now
Wincanton continues to disappoint, it looked like it was trucking back to £3 a few weeks ago but the price has broken down of late. It's a shame as it's a solid cash generative business, great brand, low PE and management have been very honest with the markets over worsening trading conditions. Looking at the horrible spreads on this right now and the poor sentiment in the markets they'll have to release a blockbuster RNS to generate more interest in buying so it can motor back to a fairer price. In the meantime I'll top up cheaply where possible and hold on for a bumpy ride.
Wincanton does own a fleet of vehicles and hire a lot of drivers. It should all add up. Once the sainsbury contract settles and is up and running. Wincanton should get back to prices it was at before
I don't think that would be what wincanton would be looking at buying . they are not parcel people. People like Evie DPD or parcel force would be looking buying.
The liquidation of Tufnell a couple of days ago must be good news for Win. T was a major road haulier who have now made all their drivers redundant. Win can mop up their contracts and their drivers.
Lucky them.
Volatile sp, up over 3% today, but negative chart , with sp, well below a falling down trendline. Both the weekly and daily RSI, indicator are below the crucial 50, level, implying bearish outlook. The last major bottom was about 195, and often stock, that completes a downtrend , comes back to that major bottom, before assuming a bullish phase.
At this price this company is sitting duck for foreign predator IMV. Something to tuck away and await developments. Capt Birdseye!!!
Fantastic news for Wincanton today. Well done to all involved.
Wincanton, a leading supply chain partner for UK business, has been awarded a significant five-year contract renewal and expansion with J Sainsbury plc (Sainsbury’s) which sees it become the lead provider of transport services for the retailer.
Building on a 25-year relationship, Sainsbury’s will move transport services for most of its operations, including Sainsbury’s and Argos, and its central transport functions, to Wincanton. Wincanton will also welcome some 2,000 new colleagues from Sainsbury’s and its partners to join our 1,400 colleagues already dedicated to transport services.
Over the next 15 months Wincanton will work with colleagues, unions, Sainsbury’s, and its partners to support those who are impacted by the change.
By selecting Wincanton as its lead partner for transport services, Sainsbury’s will benefit from a simpler and stronger transport service which will provide better availability for its customers and will drive innovation and best practice across operations.
Wincanton’s proven experience and expertise in operating large-scale operations for major British businesses will also allow Sainsbury’s to be more agile and adapt quickly to an ever-changing external market. By operating at such significant scale, Wincanton will be able to drive modernisation, process improvements and efficiencies for Sainsbury’s.
Wincanton and Sainsbury’s will also work collaboratively to bring advanced technology to the operations, alongside upgrading the fleet. This investment will support delivery of Sainsbury’s carbon reduction targets by 2035.
Wincanton will remain responsible for the Sainsbury’s convenience store operations, servicing stores across London and the south-east of England. This is a continuation of a long-standing partnership where Wincanton has operated logistics for Sainsbury’s convenience stores since its launch in 2013.
James Wroath, Chief Executive Officer, Wincanton:
“We’re delighted to have been selected as Sainsbury’s trusted transport partner of choice. Today’s announcement is testament to the high level of service and innovation that we deliver consistently, and further strengthens our long-standing partnership. We look forward to welcoming our new colleagues to the Wincanton team and continuing to deliver exceptional service to Sainsbury’s.”
Wincanton has replaced Clipper Logistics on a major supply chain contract with fashion retailer New Look.
The move will come as a blow to Clipper Logistics, which is now part of GXO Logistics UK. The company counted New Look as a key client having worked with the omni-channel retailer for 21 years.
Under the new three-year contract, which begins in July 2023, Wincanton will manage all national transport services from the retailer’s national distribution centre in Newcastle-under-Lyme, replenishing stock at New Look’s 400 stores across the UK and Republic of Ireland.
Wincanton will also support New Look’s click-and-collect delivery services which have grown from 17% in early 2021 to 31%.
Announcing the new partnership, Wincanton said it was chosen by New Look for its partnership approach, as well as its “efficient operating model and clear roadmap for continuous operational improvement across the next three years”.
Wincanton will also drive efficiencies by using its bespoke Winsight technology which will help deliver accurate, real-time visibility on the location of New Look’s stock, proof of delivery, and optimisation of delivery routes.
Read more
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Clipper Logistics begins “prompt” integration into GXO as CMA greenlights acquisition
Wincanton adds five years to Waitrose deal
Rachel Gilbey, Wincanton MD of general merchandise, said: “We are excited to be working with New Look, one of the best-known retailers in the UK.
“In choosing Wincanton to be their partner New Look will benefit from our unrivalled retail delivery expertise, operational excellence and our industry-leading Winsight technology.
“This new, three-year contract, is testament to our strong reputation in building long-lasting partnerships with our valued customers, and we look forward to working with New Look in the years to come.”
Becky Pallas, New look distribution centre general manager, commented: “We’ve been a core part of British high streets for over 50 years, serving and inspiring thousands of customers each week with that New Look feeling.
“Alongside our fantastic store estate, in recent years we’ve accelerated our e-commerce business and so it is only right that we have a partner like Wincanton that can expertly support us with both elements of our supply chain operations.
“We’re looking forward to working with Wincanton as we continue to grow and become a truly omnichannel retailer."
I’m told that wincanton has lost its contract with the mod. Also it seems they are pulling out of the brick distribution. With all these big contract losses, my main big bear is, they have the most inept people working. Forget university degrees etc. it’s how you run a transport company successfully. It’s embarrassing. For a big company like this having idiots who totally mess up a contract. Wincanton needs to start getting rid of some who think but don’t know how to people who knows how to do it. It’s a fact Thomas muller wants wincanton to disappear
https://motortransport.co.uk/blog/2023/03/22/wincanton-woes-mount-as-morrisons-switches-70m-transport-contract-to-stobart/
New contracts not looking likely atm!
I might take a punt here (a buy limit at 180p perhaps), but it doesn't look like there's much cheer on the horizon for Win. I think the divi will take a big hit. If they can hold onto their existing UK gov contracts and gain some others, things might start to look up in a year. Big ifs though.