Today Wincanton posted what its MD Eric Born (pictured) called a “boringly predictable” set of half year results, with a 1.6% decline in group turnover and a 2.6% increase in operating profit.
Its share price, however, remains in triple figures at 127.5p, although down slightly from its MT Tracker high of 129p two weeks ago.
Boasting a turnover of £542.3m in the first half it is understandable why Wincanton’s share price remains so buoyant. Two years ago the operator was in the red, but has since changed its focus to controlling costs, cash flow and renewing and winning contracts. Its contract logistics business accounted for £461.8m of its turnover during the first six months of its financial year, while its tanker division renewed two major fuel contracts earlier this year.
Despite the slight slip, its 127.5p share price can still be regarded as a resounding success for Wincanton, which in September saw its share price hit triple figures for the first time this year. And with MD Eric Born’s promise of “further progress in the next six months”, the value of its shares are likely to continue to grow.
Meanwhile, the share price at NWF Group and Stobart Group continue to climb. At the same time, share prices at Dart Group, Hargreaves Services and UK Mail saw a slight drop this week.
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Royal Mail’s share price also continues to grow in value a few weeks after its floatation began. The share price now stands at 572.5p, up from its starting price of 330p on 11 October.
NWF and Stobart Group have both seen growth in their market capitalisation this week. This is how they compare to the other transport companies in MT's list.
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