Wincanton Q4 revenues up 13%
By Iain Gilbert
Date: Tuesday 05 Apr 2022
(Sharecast News) - Logistics company Wincanton said on Tuesday that fourth-quarter revenues were expected to have increased at least 13% on an underlying basis, excluding disposed of businesses.
Wincanton said it had delivered "strong revenue growth" throughout the period, with positive contributions from all four of the group's sectors as to continued to perform in line with current market expectations for the full financial year.
efulfilment is expected to deliver year-on-year growth of 56% for the full year, including the recent Cygnia acquisition, while its public and industrial division was expected to show year-on-year growth of 18%, and the group's two retail sectors, grocery, and consumer and general merchandise, were expected to grow revenue year-on-year by a combined 17%.
Wincanton also noted that it had successfully signed a renewal to its credit facilities for a further four years until March 2026 and had extended said commitment up to £175.0m.
Chief executive James Wroath said: "Wincanton has delivered a strong final quarter performance, maintaining the positive momentum we have seen throughout the year and with all four parts of the business contributing positively to our growth.
"We continue to deliver against our strategy, with significant growth in our focus markets of efulfilment, public and infrastructure, and we are well placed to capitalise on the opportunities we have ahead of us in the coming year."
As of 0850 BST, Wincanton shares were up 2.15% at 380.0p.
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