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Wincanton PLC (WIN)

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Thursday 06 February, 2014

Wincanton PLC

Interim Management Statement

RNS Number : 3965Z
Wincanton PLC
06 February 2014
 



For immediate release

6 February 2014

 

 

Wincanton plc

 

('Wincanton' or the 'Group')

 

Interim Management Statement

 

Wincanton, a leading provider of supply chain solutions in the UK & Ireland, today issues the following Interim Management Statement for the period from 1 October 2013 to the date of this announcement.

 

The Board is pleased to report that Wincanton continues to trade in line with market expectations.

 

Within Contract Logistics, the Group successfully renewed a number of contracts including WH Smith, for its transport management services for an additional three years and secured new business with US furniture retailer Williams-Sonoma, Inc. to provide warehousing and home delivery services. The continued improved performance of the construction industry in the UK has been reflected in our Construction volumes. Overall activity levels within the Contract Logistics division have been broadly in line with the first half of the year.

Specialist Businesses Pullman Fleet Services has performed robustly, winning new business with Asda to manage its home delivery fleet and with Argos to manage its HGV fleet. Wincanton Records Management continues to perform well however, and as anticipated, volumes in the Containers business remain broadly flat.

 

As previously announced, the Group is in consultation with its colleagues over the proposed closure of the Wincanton Defined Benefit pension scheme (the 'Scheme') to future accrual. Going forward, current active members of the Scheme (approximately 7.5% of Wincanton's total workforce) will be offered alternative pension provision within the Group's range of defined contribution pension arrangements. Subject to consultation with affected employees and their recognised representatives, Wincanton expects the change to take effect from 1 April 2014. Pension benefits built up to the date of closure will be preserved.

 

There has been no significant change to the general financial position of the Group from that disclosed in the results announcement for the half year ended 30 September 2013.

 

Ends

 

For further information, please contact:

 

Wincanton plc

 

Eric Born, Chief Executive - 01249 710 000

 

Adrian Colman, Group Finance Director - 01249 710 000

 

Buchanan

 

Jeremy Garcia / Gabriella Clinkard - 020 7466 5000


This information is provided by RNS
The company news service from the London Stock Exchange
 
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