Logistics company Wincanton has reported sustained growth during the first half of the year with sales rising by almost 10%.
According to its half year results for the six months ended 30 September 2022, the company saw sales rise 9.2% to £753.6m from £690.3m against the same period last year.
Underlying EBITDA resulted at £57.4m, up 13% from £50.8m, while pre-tax profit stood at £28m, up 2.6% from £27.3m.
Wincanton, which provides services for furniture retailers including Loaf, Dwell, DFS, IKEA and The White Company, said revenues grew across all four sectors against the ‘backdrop of the challenging environment’.
During the period, Wincanton signed a contract renewal with IKEA Dartford, while also continuing to progress with further investment in technology, robotics and automation.
Looking ahead, the company said it remains confident in the Group’s strategy and expects to deliver revenue and profit in line with market expectations for FY23, underlining its ‘excellent customer relationships and resilience to challenging external conditions’.
James Wroath, Chief Executive Officer of Wincanton commented: “Wincanton has delivered another good performance during the first half of the year in a challenging macro-economic environment. I would particularly like to thank our people, who continue to provide exceptional service to our customers delivering supply chain value every single day.
“We continued to win new business and made further progress against our growth strategy. Our exceptional customer service and track record for delivery are the foundations of our business. We are reinforcing this with sustained investment into automation and robotic solutions to meet the growing demand for these technologies, and they are delivering tangible results for our customers. I am very satisfied with the progress we have made in the period and, while mindful of the challenging macro-economic pressures, I remain confident in our strategy.”