I'm confused Wincanton have less than half the debt and market value of Stobbard but they make a bigger profit!

To compound my sense of confusion Wincanton are continuing to fall whilst Stobbard continue to rise!

I don't think I can resist Wincanton any longer.


What do you think?

I know the dividend might drop, but it wasn't mentioned in the trading update. If it halves it's still almost 5%.

Interim Management Statement.

Wincanton plc (the 'Group') issues the following Interim Management Statement for the period from 1 April 2011 to the date of this announcement.

The Group's trading performance in the period was in line with our expectations.

The Group has secured a number of renewals in the period, including operations for B&Q and Procter & Gamble, and also a number of wins including operations for Forticrete and Jack Wills. Our Mainland European business has started the year well and the Group continues to make good progress in developing our business pipeline with potential new customers.

Trading conditions remain challenging in certain areas, including containers where volumes have been lower than expected. We have also been impacted by the closure of Focus DIY, a long term customer of the Group.

The sale of the three European businesses, announced at the time of our preliminary results in June 2011, is progressing.

Wincanton announces the disposal of its remaining operations in Mainland Europe

15 August 2011

Wincanton plc ("Wincanton" or the "Group"), the leading provider of supply chain
solutions, today announces that it has signed a conditional agreement for the
disposal of its remaining operations in Mainland Europe (the "Disposal") to
Rhenus AG & Co. KG ("Rhenus") via the disposal of Wincanton's Mainland Europe
Holding Company.

The Disposal operations comprise Wincanton's German Intermodal and Contract
Logistic activities, which operate from 38 locations, and Wincanton's businesses
in France, which provide contract logistics and transport services and operate
from 30 locations. Collectively, these businesses employ approximately 3,000
employees who will transfer to Rhenus upon completion of the Disposal.

Consideration from the Disposal will be approximately EUR44m (pre transaction
costs). In addition, Rhenus will assume a net pension deficit of c.EUR30m
resulting in an enterprise value of EUR74m. The consideration will be payable in
cash upon completion of the Disposal. The Disposal will be implemented by way
of a share sale.

The transaction is subject to, inter alia, the approval of Wincanton's
shareholders and a circular outlining the terms of the Disposal, including a
Notice of General Meeting, will be sent to shareholders in due course. The
Disposal is also subject to anti-trust clearance and approvals. Wincanton will
be consulting with relevant employee representative bodies.

In the twelve months to 31 March 2011, these activities generated revenue of
approximately EUR558m, and operating profit of approximately EUR4.1m. At 31 March
2011 Gross assets were approximately EUR181m.

Completion of the transaction will mark the exit of all of Wincanton's Mainland
Europe activities. The net proceeds of the Disposal will be used to reduce net
indebtedness of the Group.

Eric Born, Chief Executive, Wincanton commented:

"The sale of our remaining businesses in Mainland Europe to Rhenus will enable
us to focus on developing our leading position in the UK market, where we have
greater scale and see significant potential for profitable growth. Rhenus has a
strong reputation in the European market and the addition of these businesses to
its portfolio will build on its leading position in intermodal services and
contract logistics. Over the next few weeks, we will work together to ensure
that service levels to our customers are maintained during the transition
period. I would like to personally thank all of my colleagues in these
businesses for their hard work and contribution to Wincanton over the years."

Been on a long journey South, seems to be on a recovery ?

DC - a reasonably upbeat(ish) recent Interim Management Statement - I haven't watched since last year - maybe worth a revisit!

One to keep an eye on skinny. Ps is there a next thread, cannot find one?

No - I would start one, but I'm not sure how much interest there would be on here for a £35 share.

I would have thought thats one for you s. lol.

I looked at it @£20 and thought it must be due a drop - wrong!

ouch.

Like ASOS. lol

NO - I wouldn't touch that with a barge pole - I don't understand it at all! Far safer to trade the DOW :-)

On a closer look, WIN looks quite good (chart wise).

Thanks skinny, been out this afternoon. Agree Asos.

Does not read well to me.

http://www.wincanton.co.uk/media/247573/wincanton_annualreport_2012.pdf

Still on the up :- +10% today.

Now on the 200ma +17.2% on the day.

with diesel prices rising rapidly why would you buy into this one?

Some may be looking to sell! :-)

Mind the gap(s) !

This is now looking very bullish.

And again.