Wincanton PLC Q3 Trading Update (0122Z)
20 Janvier 2022 - 8:00AM
UK Regulatory
TIDMWIN
RNS Number : 0122Z
Wincanton PLC
20 January 2022
20 January 2022
Wincanton plc
("Wincanton" or the "Group")
Q3 TRADING UPDATE
Wincanton delivers strong trading performance; upgrade to
full-year profit
Wincanton plc, a leading supply chain partner for UK business,
today announces an update on its third quarter ("Q3") trading
performance, including the seasonal retail peak activity.
The Group has continued to see strong trading across all four
business sectors, with high demand for its services. Group revenue
grew by 15% compared to the same quarter last year, or 14%
excluding the impact of acquisitions and disposals. Given the
strong Q3 performance, and with greater certainty regarding the
mitigation of cost pressures, the Group now expects full year
profit to exceed current market expectations.
Our Digital and eFulfilment sector revenue increased by 51% in
the third quarter, driven by the acquisition of Cygnia, our
specialist high-volume eFulfilment business and new business
commenced earlier in the year. Excluding Cygnia, sector revenue
rose by 22%. Wincanton's Customer Fulfilment Centre for
Waitrose.com executed the successful delivery of its first
Christmas peak trading period. The two-person home delivery
business contributed another quarter of strong performance,
although volumes were down slightly compared to a particularly busy
quarter in the previous year. The integration of the Cygnia
business is progressing well, although online volumes for some
customers were impacted by a higher-than-expected proportion of
high street sales around Black Friday.
Wincanton delivered a seamless peak period for its Grocery and
Consumer sector customers, delivering 25 million cases of food and
drink in the week before Christmas. Revenue in this sector rose by
19% in Q3 compared to the prior year. The Group also benefited from
a strong performance in the General Merchandise sector, where
quarterly revenue grew by 9%.
The Group's Public and Industrial sector revenue rose 5%,
primarily driven by the growth of Public Sector business. The
quarter saw the commencement of operations at Wincanton's sixth
inland border clearance facility in Holyhead, Wales, the latest
milestone in the contract with HMRC for these services.
The challenges of driver and labour shortages were managed
successfully through the period to ensure the upturn in peak
activity was appropriately resourced. The Group continues to work
collaboratively with its customers to optimise service levels,
mitigate supply chain risk and manage cost pressures.
Wincanton has secured a number of significant contract wins and
extensions in the period. In the Public Sector, the Group was
awarded a new contract with the Department for Environment, Food
and Rural Affairs (DEFRA), initially for a two-year period, to
operate an inland border control post in Kent. Wincanton will be
operating the site and creating 300 new jobs to manage biosecurity
checks on goods coming into the UK from the EU.
Wincanton is also extending its partnership with DFS to manage
those deliveries that go directly from suppliers to customer. New
services for The Range, MGA Entertainment, Lakeland and Department
of Health and Social Care (DHSC) were implemented in the period, as
the Group saw strong take-up for its collaborative warehousing
services. The Group is on track to deliver its previously announced
five-year contract with Primark for the provision of transport
services to all its UK stores, commencing in February.
James Wroath, Wincanton Chief Executive Officer, said:
"Wincanton has continued to deliver value for its customers and
this has generated another strong financial performance over the
past quarter. Looking ahead, the business is on the right track. We
are maintaining our relentless focus on the delivery of our
strategy, with innovation and new technologies driving growth
throughout the business. I would like to thank all my colleagues,
as ever, for their fantastic work through the recent peak trading
periods."
For further information please contact:
Wincanton Plc Tel: +44 12 4971 0000
Tim Lawlor, Chief Financial Officer
Headland Tel: +44 20 3805 4822
Susanna Voyle/ Henry Wallers
E: wincanton@headlandconsultancy.com
Notes to Editors:
About Wincanton
Wincanton is a leading British supply chain solutions company.
The Group provides business critical services including storage,
handling and distribution; high volume eFulfilment; retailer 'dark
stores'; two-person home delivery; fleet and transport management;
and network optimisation for many of the UK's best-known
companies.
It is active across a range of markets including food and
consumer goods; retail and manufacturing; eCommerce; the public
sector; major infrastructure; building materials; fuel; and
defence. With almost 100 years' heritage, Wincanton's 20,000-strong
team operates from more than 200 sites across the country,
utilising 3,500 vehicles.
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END
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