Wincanton reports further revenue growth in first quarter

Wincanton said the award of two contract extensions by Ikea to operate UK customer distribution centres has highlighted more growth in its digital and e-fulfilment offering.

Speaking at the company's AGM today (7 July), chairman Dr Martin Read CBE said strong revenue performance recorded in the second half of the prior year has continued into the first quarter of 2021, with sustained growth and an attractive pipeline of opportunities in each of the group’s four sectors.

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"Wincanton continues to make operational and strategic progress and it is trading in line with expectations," he said. "Profits are up significantly on the same period last year.

"The award of two contract extensions by Ikea to operate its customer distribution centres in Kent and Essex underlines the sustained progress in the development of Wincanton’s digital and e-fulfilment offer. While the group has maintained its positive momentum in the early part of the financial year, it is mindful of the sector-wide pressures related to the availability of drivers. Wincanton is taking steps to address this, including increased recruitment of permanent colleagues and the acceleration of training programmes."