Wincanton delivers strong 'revenue growth' in H1

Logistics firm Wincanton said on Tuesday that it had continued to deliver "strong revenue growth" throughout the six months ended 30 September, with positive contributions from all four of the group's sectors.

Wincanton stated it remains on track to deliver full-year profits in line with market expectations, reflecting the combination of strong retail volumes and rate changes in closed book contracts.

The AIM-listed firm added that it remains confident in future growth opportunities after making "positive strategic progress" as a result of the completion of its £23.9m acquisition of specialist mid-market eCommerce and multichannel eFulfilment provider Cygnia Logistics in September.

Wincanton also noted it had secured a five-year extension to its framework agreement with long-term customer BAE Systems during the half, with the contract now setting Wincanton up to continue providing transport, warehousing, materials management, packing and inspection services to the aerospace giant.

The group also secured an expanded mandate with Asda, which will see it take on collection services at its facility in Lutterworth.

As of 0940 BST, Wincanton shares were up 7.85% at 357.0p.