Despite walking away from contracts and uncertain container volumes, Wincanton’s half year results recorded a 52% jump in pre-tax profit. Motortransport.co.uk talks to CEO Adrian Colman. The figures for the six months ended 30 September this year showed pre-tax profit of £19.6m, compared to £12.9m for the same period in 2015. Adrian Colman said the increase was the result of an improved, profitable performance from Pullman, its fleet services arm, and capital from the sale of its Records Management business. […]
Wincanton has been awarded a five year contract expansion with Morrisons, handling the logistics for its convenience stores in the North.
City Link failed to turn a profit on Friday posting a pre-tax loss of £26.4m while turnover for the year was up 4.8% to £321.7m. Rentokil was disappointed and said the “financial performance in the year was behind our initial expectations”.
Lloyd Fraser has warned that current trading conditions are challenging, but added it was too early to say what impact Brexit might have on its future performance.