Driver cost headwinds don’t blow Wincanton off course
19 November 2021
THE 3PL published its Half Year Results for the six months ended 30 September 2021, showing revenue up 19.3% to £690.3 million, and underlying EBITDA up 17.6% to £50.8m.
The firm said driver cost headwinds were mitigated by its business model; with less than 20% of Group revenue closed book transport of which price increases or exits have been agreed on c.90%.
Wincanton CEO James Wroath said: “We have delivered a strong set of results in the first half of the year with record levels of growth and positive contributions from all parts of the business. Importantly, we have also made meaningful progress against our strategic priorities. We completed the acquisition of Cygnia and commenced operations at our automated facility in Rockingham, and this significantly strengthens our eCommerce proposition. I am particularly pleased that we have delivered this performance notwithstanding the well-documented challenges across the supply chain.”