Wincanton reports "significant progress" in growth markets

Wincanton increased revenues by 16.3% to £1.4bn and saw underlying profits before tax soar to £58.1m, preliminary results showed.

For the year ending 31 March 2022, the logistics group said it had achieved growth across all four sectors; eFulfilment was strengthened with the successful integration of Cygnia Logistics which it purchased during the period, public and industrial was boosted by contract wins and renewals with HMRC, DHSC and Defra and there was also growth in defence.

Grocery and consumer saw record volumes and operations in its general merchandise division were strengthened by automation and robotics solutions.

It said it had also achieved carbon neutrality for premium home delivery services and it was now working towards new targets for its non-transport operations.

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Wincanton added that inflationary headwinds had been mitigated by actions taken at management level, such as on costs and contract mix: less than 30% of its revenue was derived from closed book contracts.

James Wroath, Wincanton chief executive, said: “The core foundation sectors of grocery & consumer and general merchandise continue to be a source of strength for the group, and we have made significant progress in our focused growth markets of public & industrial and eFulfilment.

“We have invested behind our strategy, particularly in e-commerce with the successful integration of Cygnia Logistics and the e-fulfilment capacity created at The WEB, Rockingham.

“We continue to develop automation solutions and robotic technologies to create supply chains that are efficient, agile and resilient.”