StockMarketWire.com - Logistics company Wincanton said it had experienced record levels of demand in recent weeks, particularly from the grocery, consumer and general haulage sectors.

Current indications were that good levels of demand would maintained in those sectors during the period being impacted by Covid-19, it added.

The company also said it expected is underlying profit for the year through March 2020 to be in line with market expectations, with revenue growth of over 4% slightly ahead of expectations.

An exceptional profit arising from a property gain would be be partially offset by M&A costs, principally relating to the possible acquisition of Eddie Stobart Logistics.

Wincanton said it did not expect to give guidance for the 2021 financial year until it had greater clarity later on the Covid-19 situation.

'We are highly conscious of the need to manage cash carefully but expect to have sufficient balance sheet strength to see us through this period of extreme turbulence,' the company said.

'Logistics are crucial for most of our customers and for the country in general and in the medium term we remain confident in the ongoing demand for our services and positive about the growth prospects for our business.'


At 9:54am: [LON:WIN] Wincanton PLC share price was -0.5p at 229.5p



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