Wincanton delivers Q3 sales growth

Logistics business Wincanton has announced a slight uptick in third quarter sales as the group continues to trade in line with market expectations.

According to its latest Q3 trading update ending December 2023, total Q3 revenue increased by 1.3% year-on-year, reflecting growth in core activities (+5.0%) and the continued progress in exiting closed book transport.

Wincanton said that eFulfilment revenue grew 8.1% year-on-year driven by the strong performance of IKEA, Wickes and The White Company contracts.

The Board expects the Group to report profit for the current financial year in line with market expectations. In a challenging macro-economic environment, Wincanton’s deep customer partnerships, focus on open book contracts and robust control of costs continues to deliver value for all stakeholders.

James Wroath, Chief Executive Officer of Wincanton, 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.”

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