Wincanton PLC Trading Update & Notice of Results (4770S)
October 03 2017 - 2:00AM
UK Regulatory
TIDMWIN
RNS Number : 4770S
Wincanton PLC
03 October 2017
For Immediate Release 3 October 2017
Wincanton PLC
('Wincanton' or the 'Group')
Trading Update
&
Notice of Results
Wincanton, a leading provider of supply chain solutions in the
UK and Ireland, today issues the following trading update ahead of
half year results for the six months ended 30 September 2017.
The Board expects both underlying operating profit and profit
before tax for the financial year to 31 March 2018 to be in line
with expectations.
To ensure that the Group continues to be well positioned in a
competitive market, it has identified cost saving opportunities
which will offset the trading profit headwinds highlighted earlier
in the year and provide greater resilience in future periods.
An exceptional charge of up to GBP7m will be taken in relation
to the cost-saving initiatives, primarily for the cost of
redundancies in our Industrial and Transport business and support
functions. This charge will be spread over the first and second
half of the year as the costs materialise. The exceptional charge
will be partly offset by an exceptional pension credit arising from
the recently completed Enhanced Transfer Value exercise. The net
exceptional charge for the year after this credit is expected to be
approximately GBP5m.
The Group will announce its interim results for the six months
ended 30 September 2017 on 9 November 2017.
ENDS
For further information please contact:
Wincanton plc Tel: 01249 710 000
Adrian Colman, Chief Executive Officer
Tim Lawlor, Chief Financial Officer
Buchanan Tel: 020 7466 5000
Richard Oldworth / Victoria Hayns / Maddie Seacombe
This information is provided by RNS
The company news service from the London Stock Exchange
END
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