Press releases | 21 July 2016
(‘Wincanton’ or the ‘Group’)
Wincanton, a leading provider of supply chain solutions in the UK & Ireland, will hold its Annual General Meeting today at 11 am at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN, at which Steve Marshall, Chairman, will make the following statement:
The Board confirms that Wincanton continues to trade in line with expectations. In the period since the year end, we have secured further significant contract renewals, including the renewal of a distribution contract with Sainsbury’s for up to 5 years.
The impact of Britain's decision to leave the EU will be closely monitored by the Board as the political and economic consequences become clearer in the coming months. As a strong UK and Ireland focused business, we deliver and support the everyday needs of those living in the UK and Ireland from the distribution of food, clothes and furniture to building materials, milk and fuel. Wincanton has a diversified customer base which spans large sectors of the UK economy, the majority of our contracts are open book and we are not directly exposed to foreign currency movements in our business. We are a large multicultural and multinational employer and we will continue to value the development and retention of all our colleagues from all nationalities. Wincanton is a resilient and innovative company with over a 90 year history and we are confident that we will successfully navigate through any changes arising from the referendum result.
As set out in our Full Year results, we are proposing the reintroduction of dividend payments with a final dividend for the year of 5.5p payable to shareholders on 5 August 2016 proposed at today’s AGM. We anticipate this to be the start of a progressive dividend policy with annual growth broadly matched to the future growth in underlying earnings of the business.
For further information please contact:
01249 710 000
01249 710 000
020 7466 500