Wincanton show a 2.1 per cent rise in underlying operating profit to £24.2m in the first half, despite a small fall in sales.
Eric Born, Wincanton chief executive said: “These results demonstrate the continued progress made to date in Wincanton’s transformation journey. The business has been stabilised with revenue in the period marginally ahead of the second half of last year and we are continuing to focus on winning business with existing and new customers.”
Sales in the contract logistics business were down 0.7 per cent to £461.8m. Wincanton also highlighted the changing balance of activity by industry sector.
Sales in retail grocery rose from £106.4m to £116m and construction was up from £55.2m to £64.7m.
Retail general merchandise sales were up from £115.3m to £117.9m.
However, sales in FMCG were down to £83.7m from £88.5m, while tankers and bulk was down from £63.2m to £50.5m.
Underlying profit in contract logistics was up marginally at £19.7m.
“We remain focused on reducing costs and improving the asset efficiency of the business for the benefit of our customers and to drive stronger Group performance. We expect the Group to continue to trade in line with market expectations in the current financial year,” said Born.
