Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Freight services group Wincanton said its first-quarter profits were 'up significantly' year-on-year, though it noted a potential industry-wide shortage of drivers.
A strong revenue performance recorded in the second half of the prior year has continued into the first quarter of this financial year, chairman chairman Martin Read said in AGM speech notes.
'Wincanton continues to make operational and strategic progress and it is trading in line with expectations,' Read said.
'The award of two contract extensions by Ikea to operate its customer distribution centres in Kent and Essex underlines the sustained progress in the development of Wincanton's digital and eFulfilment offer.'
'While the group has maintained its positive momentum in the early part of the financial year, it is mindful of the sector-wide pressures related to the availability of drivers.'
'Wincanton is taking steps to address this, including increased recruitment of permanent colleagues and the acceleration of training programmes.'