Wincanton predicts return to growth

Haulier Wincanton today said it was cautiously optimistic after a recovery in customer volumes and a stronger new business pipeline over the last quarter.

The company said it expected performance for the year ending March 31 to be in line with its estimates and that it was targeting an improvement in adjusted operating profit.

Wincanton, which transports goods such as food, documents and materials for recycling around Britain and Europe, said it started to produce positive trading results on the Continent after the closure and restructuring of several loss-making depots.

On June 10, the company posted a 16% fall in full-year profit, hit by lower client activity and the recession, but predicted a return to growth in 2011 as it benefits from the economic recovery.