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Interim Results

Wincanton marginally improves H1 pretax profit

12 November 2015 07:42

Wincanton has marginally improved its H1 pretax profit to GBP12.9m, from GBP12.7m. Revenue was up to GBP582.8m, and GBP550.9m. It continues to trade in line with FY expectations.

"The Contract logistics sector continues to perform well in a very competitive environment with a continued focus on cost efficiency and margin pressure on renewals," the company said.

"In Specialist businesses the Pullman turnaround is taking hold and the commercial impact of the two onerous Home Shopping contracts will end in the second half.

"The Board believes that the Group remains well positioned to pursue new business opportunities and that, through its ongoing focus on cost reduction, asset efficiency and cash generation, it will make continued strategic and operational progress.

"The Group continues to trade in line with full year expectations, as adjusted for the disposal of Records Management. Average net debt will be lower than expected due to receipt of the proceeds from the disposal."

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