12 Jul 2022 07:00
12 July 2022
Wincanton plc
("Wincanton" or the "Group")
AGM Trading Statement
Continued growth and strategic progress, outlook unchanged
Wincanton plc, a leading supply chain partner for UK business, will hold its Annual General Meeting at 11:00 am today in person at the offices of Herbert Smith Freehills, Exchange House, Primrose Street, London EC2A 2EG. At the meeting, Dr Martin Read CBE, Chair, will make the following statement:
Business performance update
Wincanton continues to make good operational and strategic progress and is trading in line with current market expectations despite the wider economic headwinds. Group revenue for the first quarter of this financial year grew by c.11% compared to the same quarter last year, or c.9% excluding the impact of acquisitions. Pleasingly, growth has continued across all four sectors with each also building an attractive pipeline of opportunities.
The eFulfilment sector increased revenue by 17% in the first quarter including the Cygnia acquisition with operations for The White Company commencing this month on 10th July. Excluding the impact of Cygnia, eFulfilment still grew by 1% despite the slowdown in online fulfilment. Public and Industrial revenues grew 11% reflecting the full year impact of our Public sector work with HMRC and further warehousing activity with Infrastructure customers. Grocery and Consumer and General Merchandise grew revenue by 8% and 13% respectively.
Backed by a strong balance sheet, the Group continues to focus investment into robotics and automation. Implementation of its c.£3m investment into robotic automation within the Cygnia business is progressing to plan with three customers going live during Q3 of this year.
Outlook
While it is mindful of the macroeconomic environment, the Board remains confident that the combination of a robust business model, new contract wins, disciplined pricing and a strong balance sheet, means the Group is on track to deliver full year results in line with current market expectations.
As set out in the full year results, a final dividend of 8.00p per share in respect of the year ended 31 March 2022 will be payable on 5 August 2022 to those shareholders on the register on 15 July 2022, subject to approval at today's AGM.
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For further information please contact:
Wincanton Plc Tel: +44 12 4971 0000
James Wroath, Chief Executive Officer
James Clarke, Interim Chief Financial Officer
Headland Tel: +44 20 3805 4822
Susanna Voyle/ Henry Wallers/ Marta Parry-Jones
E: wincanton@headlandconsultancy.com
Notes to Editors
About Wincanton
Wincanton is a leading British supply chain solutions company. The Group provides business critical services including storage, handling and distribution; high volume eFulfilment; retailer 'dark stores'; two-person home delivery; fleet and transport management; and network optimisation for many of the UK's best-known companies.
It is active across a range of markets including food and consumer goods; retail and manufacturing; eCommerce; the public sector; major infrastructure; building materials; fuel; and defence. With almost 100 years' heritage, Wincanton's 20,300-strong team operates from more than 170 sites across the country, responsible for 8,500 vehicles.