Logistics

Wincanton revenue drops as pandemic impacts

Wincanton is reporting a slight drop in revenue, despite digital growth due to online retail, according to its half-year financial results.

The logistics company’s turnover fell 2.4% to £578.7m for the six months ending 30 September, while pre-tax profit also decreased to £19.1m by 27.5%.

Turnover in Wincanton’s digital and e-fulfillment division increased by 15.7% to £65m as consumers transitioned to buying online.

James Wroath, Wincanton’s chief executive officer, said: “Wincanton has demonstrated agility, innovation and commitment to meet the critical supply chain needs of customers and consumers throughout the country. 

“I am proud of how our team has responded to the challenge that COVID-19 has brought to our markets. The current environment strengthens our conviction that we are following the right strategy.”

He added: “The steps we have taken to refocus the group on growth markets, including disposing of our Pullman fleet services and our containers business, will underpin our ongoing performance.

“I am greatly encouraged by the new contracts we have secured so far this year to become a key partner for some of Britain’s biggest brands and public bodies, and we continue to see a healthy pipeline of new opportunities coming to market.”

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