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Wincanton turns over almost El bn in six months
Page 14
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WINCANTON'S half-yearly turnover is now close to the £1bn mark after a jump of more than I:50m in six months to 30 September compared with the same period last year.
In its interim results, announced last week, the logistics giant reported a small increase in pretax profits to£15.2m (2005:£15.1m) on a turnover up 5.9% to nearly £392m. But the accounts indicate that underlying profit before tax, when exceptional restructuring costs were taken out, was up 6.3% at £17m for the half year.
UK and Irish business was stronger than Continental operations, says Wincanton, making an operating profit of £20m on a turnover of £575m.Tumover on Continental operations was£356.7m but it generated profits of just £1.4m. This is blamed on a -shortage of subcontractor capacity" and a poor performance in Spain. Nevertheless the group says it is happy with its overall performance which,it says,includes"strong continuing momentum in the UK and Ireland".
Since the end of the period covered by these results, Wincanton has continued on the acquisition trail.
Last month it bought the homedelivery specialist Lane Group and construction products transport firm RDL Distribution.