29 Jun 2017 07:00
For Immediate Release 29 June 2017
Wincanton PLC
('Wincanton' or the 'Group')
AGM Statement
Wincanton plc, the largest British logistics company, is today providing an update on trading for the period from 1 April 2017 to date, ahead of its Annual General Meeting to be held later today at 11am at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.
In the period since the year end, we have seen year over year growth in revenue primarily driven by organic growth in the Retail & Consumer sector. The Group has experienced weaker than expected performance in some of its transport-related contracts and activities and these have created some trading profit headwinds in the first quarter. These are expected to be largely mitigated by continued operational efficiencies across the business during the remainder of the year. Taking into account further reductions in the Group's net finance charges, the Board anticipates that profit before tax for the full year will be broadly in line with expectations.
ENDS
For further information please contact:
Wincanton plc Tel: 01249 710 000
Adrian Colman, Chief Executive Officer
Tim Lawlor, Chief Financial Officer
Buchanan Tel: 020 7466 5000
Richard Oldworth / Victoria Hayns / Maddie Seacombe
Notes to Editors
Wincanton plc
Wincanton is the largest British logistics firm, providing supply chain consultancy and solutions to some of the world's most admired brands. We employ approximately 18,000 people across more than 200 sites and have a 3,400-strong fleet of vehicles.
Our business started in 1925 delivering milk and dairy products. Although our heritage means a lot us, we have since expanded to provide supply chain solutions across a wide range of sectors including retail, construction, defence and energy.
As a trusted and respected business partner, we design and implement services that range from setting up and operating distribution networks through to bonded warehouses, technology hosting, container transport and storage. We strive for operational excellence in everything we do.
We work hard to understand and respond to our customers' needs, build long term relationships and use our skills and expertise to deliver a smarter, added value service, every day. Our customers rely on us to make their businesses operate more efficiently and to gain a competitive advantage in their sector.
Improved stock visibility and availability, reduction of lead times, collaborative warehousing and transport models, and an absolute commitment to continuous improvement, are just some of the reasons why many of our customer relationships extend to more than 20 years.
Key facts:
· Annual revenue in the UK & Ireland exceeds £1 billion
· Circa 18,000 employees including 4,000+ drivers
· Operates from 200+ locations with 6.6 million square feet of warehousing across the UK and Ireland
· Operating responsibility for around 3,400 vehicles