Good levels of new business in H1 at Wincanton
3PL Wincanton singled out its five-year deal with retailer Morrisons for the provision of transport services as a highlight ahead of its six-month interims.
The company said it had secured good levels of new business in the first half of the year, and pointed to renewed contracts with existing customers adidas, Williams Sonoma and Cormar Carpets.
Furthermore, Wincanton revealed that it had disposed of two freehold properties during the first half of the year (ending 30 September) for gross proceeds of £5.5 million. An exceptional profit of £2 million will be reported in relation to their sale.
Wincanton has also reduced net debt to £15 million.
Its six-month interims will be announced on 13 November.
By Christopher Walton