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Supply Chain

Logistics Firm Wincanton Forecasts Strong Outlook On Online Grocery Boost

By Steve Wynne-Jones
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Logistics Firm Wincanton Forecasts Strong Outlook On Online Grocery Boost

Logistics company Wincanton resumed dividends and said it expects annual results to be ahead of market expectations, as a surge in online grocery shopping during the COVID-19 pandemic boosted its business.

The company, which provides so-called eFulfillment services to companies such as Waitrose, Asda and Morrisons, saw first-half revenues fall 2.4% to £578.7 million (€641.6 million), mainly due to weakness in construction, energy and container markets.

The warehouse and transport provider declared an interim dividend of 2.85 pence per share.

'Agility And Innovation'

“Wincanton has demonstrated agility, innovation and commitment to meet the critical supply chain needs of customers and consumers throughout the country," commented James Wincanton, the company's chief executive.

"I am proud of how our team has responded to the challenge that COVID-19 has brought to our markets. The current environment strengthens our conviction that we are following the right strategy. The steps we have taken to refocus the Group on growth markets, including disposing of our Pullman fleet services and our containers business, will underpin our ongoing performance."

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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