Logistics company Wincanton, based in Wiltshire, have reported an uptick in revenue. They said on Friday that sales increased in the first half of 2022 as a result of a spate of sizeable new contracts.
In a trade update, the supply chain specialists stated that sales in the six months to September 30th were up 8% (6% without any of the company's acquisitions being taken into account). It's apparently being driven by continuing volume and new business development across all four segments of its business.
New contracts, including those with retailers Wickes, Primark and The White Company, as well as the Department for Environment, Food and Rural Affairs, contributed 'substantially' to the year-on-year revenue growth, according to Wincanton.
The logistics firm said: "The group expects to deliver financial performance in line with market expectations for the 2023 full year. The board remains confident in the group’s strategy, underpinned by a strong pipeline of new business across all sectors for 2023 and beyond."
Wincanton shares jumped 3% in early trade, to 313.35p, ahead of the company's full interim reports on November 15th.
Main picture courtesy of Creative Commons / Flickr: eastleighbusman
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