Profit margins continue to be held back by customers’ reluctance to increase rates, John G Russell (Transport) chief executive, logistics, Alan Poulton has warned. “Margins still remain challenging; getting the right price for the job still remains challenging,” he told Motortransport.co.uk. “We believe the market still isn’t paying the right price for the quality they want for the job. “Although we have a good story to tell about customers staying loyal, the transport margin, in particular, is very difficult to […]
Wincanton is now a “very different organisation” to what it was a few years ago, as the company increased turnover, more-than doubled pre-tax and continued to reduce its net debt in financial year 2013.
Gist blamed one-off pension costs and retailers’ squeezing of supply chain providers for a 23% fall in pre-tax profit last year, but it still saw turnover rise by 7.2%. For the year ended 31 December 2011 pre-tax profit fell to just under £18.8m, from £24.5m the previous year. However, turnover rose 7.2% year-on-year from £379m to £406m. Gist chief executive Martin Gwynn told Motortransport.co.uk: “Business performance remains robust. Excluding the effect of the one-off pension charges, profit increased year-on-year despite […]