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Wincanton profits rise as it snaps up construdion firm
Page 20
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UVincanton buys Svvales Haulage for £5.3m after reporting a significant increase in its turnover and profits Roanna Avison reports.
2HIPPENHAM, WILTSHIREmsed Wincanton has moved o extend its activities in the ;onstruction sector with the icquisition of Swales Haulage 'or5.3m The supply chain specialist ,ays the deal builds on last year's IcquisitionofRDL.Chiefexecutive 3raeme McFaull explains: "We mught RDL to take us into the :onstruction and building products ector for the first time because ye saw the opportunity for us to ell our services [in that market] h rough a successful acquisition."
He adds that the acquisition Swales, a similar operation to WL, is designed to add scale to Wincanton's operation in the onstruction sector.
No one from Swales was available or comment as CM went to press. Wincanton's financial figures or the year to 30 September show 10.6% increase in turnover to bn with pre-tax profits up 46.3% to E22.1 m.
McFaull admits the market has been tough. but points out that the company has achieved strong organic growth: "We work hard to get close to customers and meet their needs."
He adds: "The UK is still by far the largest part of the group and we've attracted a lot of new business. [Mainland] Europe is less mature than the UK and we're still working to make sure we have the right foundations in place for growth. In the past 18 months we've been investing in management teams and promoting the Wincanton brand which then gives us the opportunity to tender for business.
"We're beginning to see the green shoots."
Looking to 2008, McFaull says Wincanton will continue its policy of organic growth —but he adds that it has already identified a number of acquisition targets • Wincanton has won a five-year contract to manage a specialist packing unit for pet food company Nestle Purina PetCare. Wincanton has managed the company's national distribution centre for the past seven years.
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