Wincanton: Contracts In New Sectors Help While Volumes Down
21 January 2010 - 7:17PM
Dow Jones News
Haulage company Wincanton PLC (WIN.LN) Thursday said contract
wins in new sectors such as recycling have offset low volumes in
its traditional markets, and it expects to report fiscal year
earnings in line with its own expectations.
Wincanton said it extended contracts with longstanding customers
like do-it-yourself retailer B&Q and drug maker GlaxoSmithKline
PLC (GSK.LN) and picked up contracts in new sectors including
recycling, waste management and record management.
It has also been offering customers new services--like transport
consultancy--to help earnings while the overall volume of goods
being transported across the U.K. and Europe remains low, it
said.
Container volumes have yet to recover to pre-recession levels,
Wincanton said.
Wincanton didn't say what its expectations were but analysts
expect the company to report a pretax profit of between GBP35
million and GBP38.6 million for the year to end-March, according to
FactSet.
Fiscal year pretax profit will be lower than a year earlier,
Wincanton said, largely because of higher finance costs following a
refinancing in 2009.
Company Web site: www.wincanton.co.uk
-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272;
jason.douglas@dowjones.com
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