Revenues and profits up at Wincanton

Published by

Peter Davison

Revenues and profits at logistics firm Wincanton have exceeded pre-pandemic levels, spurred on by growth in all four of the sectors in which it operates, according to figures released on Friday (May 20).

In its preliminary results for the year, the Chippenham-headquartered firm reported revenues of £1.42 billion, up from £1.22 billion the previous year.

Pretax profits increased from £47.2 million to £58.1 million.

The company said it achieved growth across all four sectors:

Its eFulfilment proposition was strengthened by successful integration of Cygnia Logistics and investment in automation and innovation in Nuneaton and The WEB, Rockingham
Public & Industrial was boosted by contract wins and renewals with HMRC, DHSC and Defra, and growth in defence through new work with BAE Systems and Alstom
Grocery & Consumer saw record volumes
General Merchandise operations strengthened by automation and robotics solutions for the Kingfisher Group including Screwfix

Looking forward the group said there is "good momentum in the new business pipeline and we are confident in the future growth opportunities across all four of our sectors and in our continued ability to deliver our strategy successfully."

CEO James Wroath said: "Wincanton has delivered another strong set of results, with growth across all four sectors leading to a substantial increase in revenue and profit ahead of pre-pandemic levels.

"The core foundation sectors of Grocery & Consumer and General Merchandise continue to be a source of strength for the Group, and we have made significant progress in our focused growth markets of Public & Industrial and eFulfilment.

We have invested behind our strategy, particularly in eCommerce with the successful integration of Cygnia Logistics and the eFulfilment capacity created at The WEB, Rockingham.

"We continue to develop automation solutions and robotic technologies to create supply chains that are efficient, agile and resilient. This approach, coupled with Wincanton's longstanding reputation for high quality service delivery enabled us to secure a number of high-profile new contracts and extensions.

I want to thank all our people who have driven this performance through their relentless attention on delivering for our customers in what were often challenging operating conditions.

"While mindful about the macro-economic headwinds facing our sector, we are confident in the growth opportunities we have ahead of us and in our continued ability to deliver our strategy successfully."

Peter Davison

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country. An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts. Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.