Wincanton profits leap amid growing market optimism

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Wincanton increased revenues by 19.3% in the six months ending 30 September 2021 compared to the same period last year and it said the pipeline for further opportunities continued to grow.

H1 turnover was £690.3m, compared to £578.7 in 2020/21, with pre-tax profit increasing by 31.4% to £25.1m.

The group said driver costs have been mitigated by its business model, with less than 20% of revenue generated by closed book transport.

It also said its recent purchase of e-commerce and fulfilment specialist Cygnia Logistics had strengthened its capabilities and accelerated growth prospects.

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Wincanton recently commenced operations at its e-fulfilment automated facility in Rockingham and it said further investment in robotics would take place.

It added that it was on target to hit its net-zero emission target for the premium home delivery service by the end of the year.

James Wroath (pictured), Wincanton chief executive, said: “We have delivered a strong set of results in the first half of the year with record levels of growth and positive contributions from all parts of the business.

“We are taking steps to address shortages of labour and we are well positioned to deal with the cost pressures we are seeing across our markets.

“We are continuing to strengthen our offer to customers through investments in digital and robotic innovation and a culture of continuous improvement in our services,” he added.

The post Wincanton profits leap amid growing market optimism appeared first on Motor Transport.

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