Wincanton PLC Trading Update and Notice of Results (8607J)

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 [e-mail].

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: [phone] 
 Adrian Colman, Chief 
  Executive Officer 
 Tim Lawlor, Chief Financial 
  Officer 
 
 Buchanan (Financial PR)       Tel: [phone] 
 Richard Oldworth 
 Maddie Seacombe 
 Tilly Abraham                 [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 05, 2018 02:00 ET (06:00 GMT)