Wincanton announces its half year results for the six months ended 30 September 2012.

Half Year Results for six months ended 30 September 2012
 
Improved performance and strategic progress achieved
 
Key Points
 
Underlying performance of the Group has been positive with good wins assisting future growth, including the following within the retail sector
 
Agreement with B&Q to support their multi-channel operations across the UK
 
Five-year contract with Morrisons to operate its first ever dedicated UK convenience distribution centre in London
 
Future growth continues to be supported by investment to develop product and service extensions
 
Current trading in line with expectations
 
Financial Key Points
 
Revenue £551.2m (2011 – £625.4m)
 
Underlying operating profit £24.3m (2011 – £22.3m)
 
Underlying profit before tax of £17.1m (2011 – £14.2m)
 
Profit before tax £13.0m (2011 – £13.6m loss)
 
Underlying earnings per share 10.6p (2011 – 9.0p)
 
Basic earnings per share 8.0p (2011 – 9.0p loss)
 
Net debt £123.0m (£114.5m at 31 March 2012)
 
Note: Amounts stated relate to continuing operations only. Underlying profit before tax and earnings per share are stated before net other items of £4.1m (2011: £27.8m), comprising exceptional restructuring and other costs of £nil (2011: £23.7m), and amortisation of acquired intangibles of £4.1m (2011: £4.1m). Operating profit, including these items, amounted to £20.2m (2011: loss of £5.5m). Profit before tax, including these items, amounted to £13.0m (2011: loss of £13.6m).
 
Eric Born, Chief Executive commented:
 
"The first six months of the current financial year reflect the progress the Group has made over the last 18 months. Our strategy to achieve a clear leadership position in the UK & Ireland supply chain market continues to gather momentum and our recent new business successes are a clear indication of how this is now delivering tangible results".
 
"Our new business pipeline remains healthy and we continue to be successful in securing significant levels of customer contract renewals. We remain acutely focused on margin growth and free cash flow generation."

Quelle: eyefortransport

Portal: www.logistik-express.com