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Trading statements

WIN in line

31 March 2016 07:33

Wincanton's trading performance, as adjusted for the disposal of Records Management, continues to be in line with expectations as set out in the half-year results last year.

"Having completed the disposal of the Records Management business on 8 December 2015, GBP50m of the Group's GBP75m M&G debt has been repaid, resulting in a corresponding reduction in the level of average net debt and financing costs in the last quarter of the financial year," the company said.

"As planned, we have also utilised our Revolving Credit Facility to repay GBP34m of US Private Placement debt on its maturity.

"The Group also paid a contribution of GBP7m to the Wincanton Pension Scheme from the proceeds of the disposal of the Records Management business, bringing the total contributions to the scheme to approximately GBP21m in the year."

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