Wincanton is to sell its records management business (WRM) to market specialists Restore for £60m after signing a conditional agreement. WRM has provided document storage and shredding services across the UK and Ireland for over 14 years and currently employs 167 people. For the year ending 31 March WRM generated EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) of £5.4m on a turnover of £22.4m. It had gross assets valued at £22.2m. Wincanton said that the disposal would allow it […]
More than 400 Argos employees have gone on strike over the proposed transfer of almost 100 drivers to Eddie Stobart Logistics.
Wincanton continued its strong performance in its fourth quarter of trading, with underlying revenue now expected to be around 15% ahead of last year.
Wincanton will be back in the black this financial year as the group’s extensive restructuring and disposals programme bears fruit. Wincanton chief executive Eric Born tells MT: “When [we] started this programme we said it would take two years to arrest the decline. We are bang on track. It’s absolutely what I’m expecting.” A year of restructuring and disposals saw it sell its European operations to focus on the UK and Ireland, dispose of its 20% shareholding in Culina Logistics […]