10th Oct 2023 11:24
(Alliance News) - Wincanton PLC on Tuesday said it continues to trade in line with market expectations, but total revenue is expected to be lower year-on-year.
The Wiltshire, England-based logistics firm said it continues to trade in line with market expectations, in a trading update on the six months ended September 30.
Profit is expected to be weighted towards the second half of the financial year. It said this reflects its "seasonal peaks and the onboarding of new customer wins."
However, total revenue is expected to be lower year-on-year, reflecting the strategic reorganisation of the group's transport operations.
In May, the firm said pretax profit for the year ended March 31 dropped by 30% to GBP38.2 million from GBP54.8 million the year prior, as revenue rose by 2.8% to GBP1.46 billion from GBP1.42 billion.
Wincanton plans to publish its interim results on November 9.
Shares in Wincanton rose 0.4% to 259.65 pence each in London on Tuesday morning.
By Sophie Rose, Alliance News reporter
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