1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198 
Wincanton goes for growth and progress
Page 10
If you've noticed an error in this article please click here to report it so we can fix it.
Turnover and profits are up at Wincanton, but an ongoing legal dispute continues to have an effect. David Harris reports.
I .OGISTICS GROUP Wincanton improved turnover and profit in its latest half-yearly figures.
Turnover to 30 September was up to £879.8m from £800.3m in the same period last year. with pre-tax profit nearly doubling from £8.3m to £15.2m.
But the group's pre-tax profits remain below 2% of turnover, in line with the transport industry's low returns nationally.
Wincanton also reiterated February's warning that full-year profits would he affected by a legal dispute over a contract on a joint venture to provide logistics for agricultural-machinery maker Case New Holland.
That dispute is currently subject to arbitration after Case New Holland suddenly ended the contract when Wincanton believed it had three years to run.The loss of the work is expected to hit net earnings by around £2m, Despite this setback .Wincanton has won a series of new contracts and renewals totalling £250m this year, including new business with Aria Foods. Cemex. Somerfield and Tesco.
Wincanton chairman David Malpas is upbeat about the rest of the financial year: The potential for continuing organic growth, together with an initial contribution from our recent French acquisition [Premium Logistics]. give us confidence that the full year will be another year of operational and strategic progress."
• See Yardstick, page 26.