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Logistics in the limelight
Page 22
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A number of prominent transport and logistics companies have made announcements over the past month, but it is Wincanton and Christian Salvesen that have received the most headlines.
Hargreaves Services, a provider of transport and support services to the energy and waste sectors, says trading for the first quarter of the year was in line with budget and market expectations, sentiments echoed by the Dart Group. Similarly, Business Post says trading in the first half of the current financial year was satisfactory, with revenue up 15% to 2153m — although turnover in parcel services fell 3.4% to 294m.
Conversely, the release of Christian Salvesens trading update for the six months ending 30 September was not as well received. However, this was not due to deterioration in the financial numbers, as it was announced that revenue is expected to increase by 7% year on year when full details are released in December. Of more concern were the cautionary notes sounded over the challenging environment, worse than expected volumes in Iberia and productivity gains not offsetting pricing pressure on mainland Europe.
While Christian Salvesen has a strong position in certain niche markets, the company will need to make sure its current recovery plan yields quick benefits if
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it is to avoid increasing speculation over a possible takeover.
Wincanton was also prominent in the headlines this month with a string of announcements. The most significant was the acquisition of RDL Holdings, a UK market leader in the provision of supply-chain services to the construction and building products industry and the Lane Group, a UK market leader in retailer-toconsumer home delivery. Although both are domestic purchases and will not relieve Wincantons over-reliance on the UK for the majority of its revenue stream, the additions will certainly strengthen the company's position in both these sectors, with the home-delivery market probably offering the most attractive growth opportunities.
These acquisitions, combined with news of Wincanton strengthening its relationship with Sainsbury's, becoming the sole supplier for Somerf ield and teaming up with Valpak to tackle the reverse logistics market, show that the operator has been very active in cementing its place within the supply chain sector —which its competitors will have noticed.