Wincanton grows despite limited driver availability

UK 3PL, Wincanton has reported sustained annual growth despite the industry-wide driver shortage in its Annual General Meeting held yesterday, 7/7/21.

Chairman of Wincanton, Dr Martin Read CBE made the following statement at the AGM:

“The Board confirms that the strong revenue performance recorded in the second half of the prior year has continued into the first quarter of this financial year, with sustained growth and an attractive pipeline of opportunities in each of the Group’s four sectors. Wincanton continues to make operational and strategic progress and it is trading in line with expectations. Profits are up significantly on the same period last year.

The award of two contract extensions by Ikea to operate its customer distribution centres in Kent and Essex underlines the sustained progress in the development of Wincanton’s Digital and eFulfilment offer.  While the Group has maintained its positive momentum in the early part of the financial year, it is mindful of the sector-wide pressures related to the availability of drivers. Wincanton is taking steps to address this, including increased recruitment of permanent colleagues and the acceleration of training programmes.

As set out in the Full Year results, a final dividend of 7.50p per share in respect of the year ended 31 March 2021 will be payable, subject to approval at today’s AGM, on 6 August 2021 to those shareholders on the register on 9 July 2021.”