A strong performance in Wincanton’s contract logistics business saw turnover jump in the first half of its financial year, but losses in its Pullman Fleet Services division slowed profit growth. Group turnover increased 5.8% to £582.8m in the six months to 30 September (2014: £550.9m), mainly driven by strong volumes in open book contracts and new and renewed business wins, including extended contracts with long-standing customers Dairy Crest and HJ Heinz. Pre-tax profit crept up 1.6% to £12.9m (2014: £12.7m). […]
Operators struggling to meet financial standing can now be offered a period of grace of up to a year to get themselves on a firmer footing, according to transport lawyers.
Wincanton has secured two new distribution contracts: a five-year deal with military equipment supplier General Dynamics UK and a three-year contract renewal with Adidas.
Howard Tenens Logistics saw its profits hit as a result of losses made by its subsidiary, Howard Tenens (West London) after two major customers’ volumes dropped by up to 90%.