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Trading statements

Wincanton sees profits in line with expectations

03 October 2017 08:19

Wincanton said it expects both its underlying operating profit and profit before tax for the financial year to be in line with expectations.

The company said it has identified cost saving opportunities to "offset the trading profit headwinds highlighted earlier in the year".

An exceptional charge of up to £7m will be taken in relation to the cost-saving initiatives, primarily to cover redundancies.

It will be partly offset by an exceptional pension credit, creating a net exceptional charge for the year of around £5m, the company said.

At 8:19am: (LON:WIN) Wincanton PLC share price was +2.63p at 237.63p

Story provided by StockMarketWire.com

Related Company: WIN

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