Wincanton’s revenue growth in the first half of 2022 remained strong
By Anthony O. Goriainoff
Wincanton PLC said on Tuesday it continued to generate strong revenue growth throughout the first half of fiscal 2022 and was on track to generate annual profits in line with market expectations.
The London-listed logistics company said that during the period ended September 30, it got a five-year extension of its framework agreement with BAE Systems PLC, and that it also got an expanded mandate with British grocer Asda.
He said his pipeline of new contracts and extensions of existing agreements remains encouraging.
The company said it has continued to work closely with its customers to deal with the effects of the shortage of truck drivers in the UK, and both to attract and retain drivers. Wincanton said he had not been affected by the recent fuel shortage in the UK
“Closed book transport contracts, particularly in construction and consumer staples, were the most affected parts of the business, but the group made good progress in agreeing on tariff changes to optimize service levels. A significant majority of Wincanton’s contractual agreements provide mitigation against cost pressures, ”he said.
Write to Anthony O. Goriainoff at [email protected]