Wincanton – profits grow by 10.6%

Revenue at UK 3PL Wincanton grew by 1.7% in the financial year to 31st March, to £1.222 billion. Underlying profit before tax grew by 10.6% to £47.2 million.

Amongst other financial highlights, Wincanton has opened its first ‘dark store’ customer fulfilment centre for Waitrose and new e-fulfilment centres in Rockingham and Nuneaton. It has also won business from clients including Dobbies, Heineken, Wickes and HMRC amongst others.

Commenting on the results, James Wroath, Wincanton’s Chief Executive Officer, said: “Wincanton has made significant progress in a challenging year, showing flexibility, agility and resilience for our customers across our business. These results clearly show the benefits of the breadth of our offer and the commitment of our people who stepped up to meet the challenges we faced. We have grown revenues strongly since the early impact of the pandemic, fuelled by particularly good performance in Digital & eFulfilment and new wins in the public sector. We continue to invest to ensure we can deliver on the opportunities ahead in these markets. While profitability was impacted by the unprecedented disruption caused by Covid-19 in the first half it was significantly ahead of pre-pandemic levels in the second. We have taken this strong momentum into the new financial year and current trading is encouraging.” 

“We have also made positive progress against the strategy set out last year. We completed the reorganisation of the business, which provides us with a clearer focus on growth markets and ensures we are well placed to respond to the changing dynamics in our markets that have been accelerated by the Covid-19 pandemic. Furthermore, today we set out our new ESG strategy which sets us on a path to net-zero by 2040 with a clear plan to decarbonise our supply chain services and operations.”

“Looking ahead, we remain confident that we are well placed to make further progress, though we are mindful of the competitive environment and short term uncertainties as the country moves out of lockdown. We have in place the right strategy and the right people and believe our wide range of supply chain services and capabilities will continue to enable growth across a broad set of sectors.”