Wincanton trading in line

Shares of logistics company Wincanton soared 18 per cent as it continues to trade in line with market expectations, following a robust performance from its contract logistics business.

Shares of logistics company Wincanton soared 18 per cent as it continues to trade in line with market expectations, following a robust performance from its contract logistics business.

In its update ahead of preliminary results for the year ended March 31st 2013, Wincanton said its contract logistics business secured new wins and renewals across several sectors, despite the challenging backdrop in UK markets.

"During the final quarter, we have successfully opened the first convenience store distribution centre for Morrisons, utilising our systems solution, and a second similar operation for Sainsbury's, both serving the London market," it explained.

"The group's ability to deliver these fast, efficient operational start ups, incorporating our technology platforms and solutions, provides the group with competitive propositions to win new business, especially in the retail market place," Wincanton added.

Wincanton said its defence business delivered a good performance across the year with potential to expand relationships with existing blue chip customers.

It also announced that it has secured new Retail and FMCG customers across its shared user warehouse facilities.

The group said its container business continues to be hurt by persistently lower volumes in the UK container market place.

However, records management and Pullman Fleet Services produced good performances, as it signed up new customers in the healthcare sector and kept existing home delivery customers.

CJ

Recommended

Imperial Brands has an 8.3% yield – but what’s the catch?
Share tips

Imperial Brands has an 8.3% yield – but what’s the catch?

Tobacco company Imperial Brands boasts an impressive dividend yield, and the shares look cheap. But investors should beware, says Rupert Hargreaves. H…
20 May 2022
Investing in drugmakers: uncommon profits from curing rare diseases
Share tips

Investing in drugmakers: uncommon profits from curing rare diseases

Treatments for medical conditions with only a small number of sufferers can still be very attractive for pharmaceutical companies and investors becaus…
20 May 2022
Share tips of the week – 20 May
Share tips

Share tips of the week – 20 May

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
20 May 2022
Delivering profits: should you buy Royal Mail shares?
Share tips

Delivering profits: should you buy Royal Mail shares?

The volume of parcels delivered by Royal Mail soared during the pandemic, and so did its profits. But it has been coming under pressure lately. So, as…
19 May 2022

Most Popular

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
18 May 2022
Aviva: a share for income investors to tuck away
Share tips

Aviva: a share for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
18 May 2022
Despite the crypto crash, bitcoin still has a bright future
Bitcoin & crypto

Despite the crypto crash, bitcoin still has a bright future

Cryptocurrencies have crashed hard, with bitcoin down by more than 50% from its peak. But, says Dominic Frisby, bitcoin still has a future – it is the…
19 May 2022