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Interim Management Statement

26th Jul 2013 07:00

WINCANTON PLC - Interim Management Statement

WINCANTON PLC - Interim Management Statement

PR Newswire

London, July 25

26 July 2013 Wincanton plc ('Wincanton' or the 'Group') Interim Management Statement Wincanton, a leading provider of supply chain solutions in the UK & Ireland,today issues the following Interim Management Statement for the period from 1April 2013 to the date of this announcement. The board is pleased to report that Wincanton continues to trade in line withmarket expectations underpinned by a combination of continued new business winsand securing important renewals. As anticipated, the UK and Ireland economies have remained broadly flat in thefirst period of this year and we continue to see competitive pressure in ourmarketplace as our customers retain a tight focus on their costs. Within Contract Logistics, the Group successfully renewed its contract withPernod Ricard for its UK warehousing, repacking and customer delivery transportoperations for a further five years, which will take this customer relationshipto over twenty years. The Group extended its partnership with Morrisons tosupport the continuing expansion of its "M Local" format in the north ofEngland with a five-year contract. The contract is for combined warehouse andtransport operations, supported by Wincanton's system platform and follows lastyear's successful launch of Morrisons' first-ever dedicated conveniencedistribution centre in London. The Group also secured a new three-year national distribution contract withCEMEX where Wincanton will be responsible for both the planning and transportof bagged cement to UK construction sites, retailers and wholesalers across thecountry. Within Specialist Businesses Wincanton Records Management continues to performwell however volumes in the Containers business remain depressed. Pullman FleetServices has performed robustly and has a good pipeline of new opportunities toconvert. The Group prides itself on its reputation for customer service and excellenceand was delighted to have been awarded the Motor Transport Award for CustomerCare in respect of its Home Delivery service for Marks & Spencer. There has been no significant change to the general financial position of theGroup from that disclosed in the results announcement for the year ended 31March 2013. Eric Born, Chief Executive commented: "Wincanton has started the year well and we are on track to continue to deliverour strategic plan. Last year the Group demonstrated its ability to increaseprofitability in a broadly flat economy. We intend to build on this operationalimprovement by maximising the efficiency of our assets and by continuing to addvalue to our customers by delivering innovative supply chain solutions whichhelp them deal with the changes in their markets. Whilst we expect the economy to remain challenging, we continue to progressalong our path to maximise our operational performance and focus on free cashflow generation." For further information please contact: Wincanton plc Tel: 01249 710 000 Eric Born, Chief ExecutiveAdrian Colman, Group Finance Director Buchanan Tel: 020 7466 5000 Jeremy Garcia / Gabriella Clinkardwww.buchanan.uk.com

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