Strong retail performance mitigates contract losses at Wincanton

Wincanton truck

Wincanton saw annual turnover fall in the year ended 31 March 2019 but profit increase, thanks to a strong performance in retail that offset contract losses elsewhere. Turnover was 2.6% lower for the period at £1.14bn (2018: £1.17bn). Pre-tax profit (normalised to strip out exceptional items such as previous restructuring) was up 6.3% to £49.3m (2018: £46.4m). Its statutory pre-tax profit for the period was 28.2% more at  £48.6m (2018: £37.9m). Wincanton’s debt was down by more than a third […]