Wincanton has said it is ready to tackle any changes in legislation or the economic climate Brexit might have on the industry.

Speaking at the company’s AGM in London today, Wincanton chairman Steve Marshall said the board would be closely monitoring the situation “as the political and economical consequences become clearer”.

However, he added that because the “majority” of the company’s contracts are open book and based in the UK Wincanton wasn’t “directly exposed to foreign currency movements”.

He said: “Wincanton is a resilient and innovative company and we are confident that we will successfully navigate through any changes arising from the referendum result”.

In regards to the non-UK nationals already employed by Wincanton, Marshall suggested the referendum would make no difference to their future at the company where possible.

Marshall said: “We are a large multicultural and multinational employer, and we will continue to value the development and retention of all our colleagues from all nationalities.”

At the AGM, the board said Wincanton continued to trade in line with its expectations, and that since the close of its last financial year it had secured “further significant contract renewals”.

This includes the renewal of its Sainsbury’s DC contract, which will see the two companies’ relationship reach the 25 year mark.

For the year ended 31 March, Wincanton recorded turnover of £1.14bn and pre-tax profit of £65.8m.

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