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Wincanton half year highlights confirm strong operating profit growth

Wincanton half year highlights confirm strong operating profit growth

Thu 8 Nov 2018 07:47 by ukcitymedia.co.uk about : trading updates - 0 Comments - 695 words


Highlights

·       New business wins include EDF Energy, Roper Rhodes and Hapag-Lloyd 

·       Key renewals completed in period with Ibstock, Halfords, Loaf.com and AvantiGas

·      Underlying operating profit increase of 5.1% to £27.0m driven by improved profitability in Industrial & Transport from actions taken to address cost base and performance

·       Underlying EPS growth of 8.0% to 16.2 pence per share

·       Strong free cash flow generation of £33.5m, with net debt reduced to £24.2m

·      2017 triennial pension valuation agreed during the period providing the Group with the ability to continue to invest in the business and to pay a progressive dividend

·       Interim dividend of 3.60p, representing an increase of 10.1% which continues to broadly follow the growth in underlying earnings

 

Adrian Colman, Wincanton Chief Executive Officer commented:

"In the first half of the year the Group has delivered a healthy overall performance from a stable platform. We continue to develop our business and propositions to meet the needs of our customers, especially benefitting from growth in eCommerce in the Retail & Consumer environment. The strong operating profit growth delivered in the period reflects the improvements we made to our performance and cost base last year and the robust approach taken to only renewing work where we can see appropriate rates of return.

The strong underlying earnings per share growth of 8.0% and free cash flow generation highlights our continued ability to deliver predictable results and returns for all stakeholders. We look forward to making further strategic and operational progress to support long term returns for our stakeholders."

 

                  



These articles are usually news summaries / highlights and dont always include all financial news updates. Check at company website INVESTORS INFORMATION for full published results.


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