Wincanton has reported a strong set of financial results for the year to 31 March 2020, with revenue up 5% to £1.2bn and pre-tax profits up 7% to £52.9m, driven by a 26% rise in revenue from its retail grocery division which picked up a sizeable contract with Morrisons in June 2019 that has just been extended. Shares rose 10p to 195p on the announcement but are still well off the peak of over £3 in February before the Covid-19 […]
Transport workers are among those on a new government list of people deemed “critical to the COVID-19 response” and whose children will therefore be prioritised for educational provision in schools.
Wincanton has warned that a decline in customers’ volumes and a reduced demand for warehousing will “adversely affect” the business in the next 12 months. In a trading update issued today (Tuesday 3 April), the group says that while it has successfully retained and won new contracts across all sectors, market conditions in retail, FMCG and containers have been challenging. It adds that a number of its customers are seeing a decline in volumes, which is resulting in reduced demand […]
The MT basket of transport shares continues to have a little wobble in September, but it is worth keeping in mind just how much share values of transport firms have risen in the nine months of the year so far – pointing towards a more sustained recovery in the sector.