Wincanton PLC Trading Update and Notice of Results (8607J)
April 05 2018 - 1:00AM
UK Regulatory
TIDMWIN
RNS Number : 8607J
Wincanton PLC
05 April 2018
For Immediate Release 5 April 2018
Wincanton PLC
('Wincanton' or the 'Group')
Trading Update and Notice of Results
Wincanton, the largest British logistics company, today issues
the following trading update ahead of announcing its preliminary
results for the year ended 31 March 2018.
The Board is pleased to confirm that the full year result will
be in line with expectations.
Within our Retail and Consumer division we have maintained the
strong operating performance seen in the first half of the year,
with good volumes and an excellent performance during the Christmas
peak. New business wins in the second half of the year have
included contracts with Wickes, part of the Travis Perkins Group,
to manage its delivery of bulky goods to customers, and Ikea, to
provide two-man home delivery services across the South East of
England. Contract renewals have included an extension of our
logistics activities with Pernod Ricard UK.
In the second half of the year, the Industrial and Transport
division has made good progress in repositioning the business and
reducing its cost base, and, as a result we have exited some
contracts in transport services and construction. Contract wins for
the division in the second half of the year included the provision
of Ready Mix Cement logistics to Aggregate Industries and the
renewal of our fuel distribution contract with Phillips 66.
As previously indicated, the Group will incur an exceptional
restructuring charge in the year reflecting the costs to ensure the
business is competitively positioned for the future. The Group's
closing net debt is expected to be approximately GBP30m.
The preliminary results for the year ended 31 March 2018 will be
announced on 17 May 2018. The Group will be hosting a meeting for
analysts at 11.00am at the offices of Buchanan, 107 Cheapside. For
further details and registration, please contact Buchanan on
wincanton@buchanan.uk.com.
Following the meeting, an audio webcast will be available at
http://vm.buchanan.uk.com/2018/wincanton170518/registration.htm
The information communicated in this announcement contains
inside information for the purposes of Article 7 of Regulation
596/2014.
For further information please contact:
Wincanton plc Tel: 01249 710 000
Adrian Colman, Chief
Executive Officer
Tim Lawlor, Chief Financial
Officer
Buchanan (Financial PR) Tel: 0207 466 5000
Richard Oldworth
Maddie Seacombe
Tilly Abraham wincanton@buchanan.uk.com
This information is provided by RNS
The company news service from the London Stock Exchange
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