Wincanton profits up 42.9% in first half of year

UK supply chain and logistics company Wincanton has reported a 42.9% growth in profit before tax on revenue growth of 28.5% in the first half of the financial year.

Though profits would have been higher but for driver pay hikes, Wincanton saw saw its profit before tax grow to £27.3 million. James Wroath, Chief Executive Officer of Wincanton commented:  “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. Importantly, we have also made meaningful progress against our strategic priorities. We completed the acquisition of Cygnia and commenced operations at our automated facility in Rockingham, and this significantly strengthens our eCommerce proposition. I am particularly pleased that we have delivered this performance notwithstanding the well-documented challenges across the supply chain. 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.

So far this year, we have secured a healthy level of new customer contracts, renewed agreements with businesses we are proud to have supported for many years and have a strong pipeline of new opportunities ahead of us. 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. All of this positions us well to benefit from the changes we are seeing in our markets.”

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