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Wincanton sees more Christmas cheer — just
05.11.09
Christmas will be marginally better than last year but only a fraction of the festive season two years ago.
That's the diagnosis of economic bellwether Wincanton, the West Country haulier which has grown to become Europe's second-largest logistics company after Deutsche Post/DHL.
The recession has taken its toll on Wincanton which today reported a 15% slide in pre-tax profits to £18 million in the six months to the end of September. Much of that fall came after a shake-up of Wincanton's German business, a hangover from its acquisition seven years ago of P&O Trans European.
“There is no significant growth on the horizon but we are taking market share,” said Wincanton chief executive Graeme McFaull.
The interim dividend stays at 4.83p.
