Wincanton (WIN)

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Wincanton WIN Logo

A leading provider of supply chain solutions in the UK and Ireland.

3-Oct-2017

Trading Update – An in-line statement with expectations for the full year statement – Although there will be an exceptional charge of (net) £5m in relation to cost-saving initiatives, which will be spread over the 1st and 2nd half of next year.

9-Nov-2017 – 267.5p – £327m – PER 9.21

Results For The 6 Months Ended September 2017 – It just seems a little dull, flat and in-line, growth being minimal.

This latest update probably justifies the low PER of 9.21, which may even be a little generous.

5-Apr-2018 – 211p – £262.8m – PER 7.01

Trading Update For The 12 Months To End March 2018 – FY expected to be in-line.

I remain Neutral here as it still all seems just a little bit too dull – Typically flat and with no real obvious growth. Could be OK for the yield though.

17-May-2018 – 266p – £330.7m – PER 8.80

Preliminary Results For The 12 Months To End March 2018 – Looks slightly better than forecast.

I’m not going to change my Neutral stance here.

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