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Wincanton

July 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • WIN
  • Price:
  • 64p
Wincanton has reported its results for the year to 31 March. Sales were down to £1.08bn mainly reflecting the closure of the food services business, which had been hemorrhaging cash and a couple of lost contracts which had reverted back in-house. Pretax profit however came in 11% ahead at £32.1m for eps of 19.1p.The core contract logistics business recorded revenues down 7% but the benefits of an onerous lease provision in FY12, cost efficiencies, the closure of the Food Services business, and the introduction of some higher margin services culminated in the margin improving to 4.1% from 3.4% a year ago. New customers were won (including Morrisons, the NHS, CEMEX, Rolls Royce, Sainsbury's, BAE Systems and Valero) and the complet ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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