Wincanton experiences year of significant growth
Wincanton, the third party logistics business, has reported a year of significant progress despite the initial disruption caused by COVID-19 in the first half. Revenues increased by £20.7m to £1.22bn in the year to March 31, and it said growth was achieved despite the pandemic’s shock.
Chief executive, James Wroath, 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 taken this strong momentum into the new financial year and current trading is encouraging. 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.”
A robust recovery resulted in revenue growth across all four sectors for the second half and underlying profit before tax increased to £28.1m. This was driven by a combination of market recovery, surging demand for eCommerce and products for the home and new business.
Recovery commenced as the first lockdown lifted and profits in the second half were well ahead of pre-pandemic levels. Growth was predominantly strong within Wincanton’s digital and efulfilment operation.
For more information visit www.wincanton.co.uk
21st June 2021
