Wincanton PLC - Wiltshire-based logistics firm - Revenue in first half ended September 30 slips 2.4% year-on-year to GBP578.7 million from GBP592.9 million. Pretax profit falls 33% to GBP19.1 million from GBP28.5 million. Wincanton cuts its interim payout by 27% to 2.85p from 3.90p. Notes "unprecedented disruption caused by COVID-19". Adds it will sell subsidiary Wincanton Pullman Fleet Services Ltd, a provider of vehicle repairs and maintenance, to asset manager Aurelius Investments. "The transaction will reduce the group's annual revenue by approximately GBP30 million but lead to a small benefit in the group's underlying profit before tax," Wincanton says.
Current stock price: 227.00 pence
Year-to-date change: down 26%
By Eric Cunha; ericcunha@alliancenews.com
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