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Wincanton PLC on Wednesday said it was buoyed by IKEA and core activities as revenue in its third financial quarter climbed. Wiltshire, England-based logistics firm said revenue in the third financial quarter to December 31 rose 1.3% annually, boosted by core activities which grew 5.0%. eFulfilment revenue jumped 8.1% year-on-year, boosted by IKEA, Wickes and The White Company contracts. However, public & industrial revenue fell 12% against ‘a strong prior year comparator’. The company expects financial year 2024 profit in line with market expectations, as it focused on open book contracts and cost control. Wincanton said that market consensus is a pretax profit of £50.5 million for financial 2024, up 32% from £38.2 million in financial 2023. Chief Executive Officer James Wroath said: ‘Wincanton plays a crucial role at the heart of UK supply chains; this is never more apparent than during the seasonal peak trading period for our retail customers. I would like to thank all my colleagues for their hard work and dedication during this exceptionally busy period. We remain focused on being Britain’s best supply chain partner and on the opportunity to deploy technology to deliver transformational value for our customers and shareholders. The macro-economic environment remains uncertain as we move into 2024 but we are confident our strategy and strong financial position provides an excellent foundation for growth and continued strategic delivery in 2024.’ Wincanton shares were 0.2% higher at 292.00 pence each on Wednesday afternoon. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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