A strong performance in its contract logistics division; the sale of its records management division; and Pullman Fleet Services walking away from two “onerous” loss-making contracts helped Wincanton improve its profit and reduce its net debt in its most recent financial year. For the year-ending 31 March Wincanton saw turnover rise 3.6% to £1.14bn, from £1.1bn in financial year 2015. However, if you exclude contributions from its record management business – which it sold to Restore in November 2015 for […]
Today Wincanton posted what its MD Eric Born (pictured) called a “boringly predictable” set of half year results, with a 1.6% decline in group turnover and a 2.6% increase in operating profit.
As the UK inflation rate rose through the year to reach 3.1% in November, the highest in nearly six years, 2017 saw industrial unrest gather momentum in the logistics sector, as drivers demanded increased pay or bridled against company measures to cut costs.
The UK branch of Mitsubishi Electric Europe has renewed its warehousing contract with Yusen Logistics by five years.