StockMarketWire.com - Logistics group Wincanton said it expected its annual results to be 'materially' ahead of current market expectations amid a particularly strong performance in its e-commerce business.
Wincanton said it had seen a continued improvement in profitability in July and August amid increased demand for online retail, with revenue significantly ahead of pre-Covid-19 levels.
'Volumes in the two-person home delivery business within this sector have remained high through the summer months,' the company said.
It added that operational efficiencies had also improved its margins.
'Performance across the rest of the group is encouraging, supported by changes to the cost base implemented earlier in the year in the face of challenging external conditions,' Wincanton said.
At 9:43am: [LON:WIN] Wincanton PLC share price was +19.75p at 199.75p
Story provided by StockMarketWire.com
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