Wincanton to trim the fat

Click to follow
The Independent Online

The new chief executive of Wincanton set out his plans for turning around the haulage company yesterday after its losses topped £25m.

Eric Born will focus on strong growth areas and strip out underperforming operations, starting with the sale of three European units for £41.5m.

Wincanton employs 26,000 people across Europe and boasts Sainsbury's, WH Smith and Comet among its clients.

The group reported pre-tax losses of £25.9m in the year to 31 March, compared with a profits of £3m the year before. It is expected to take a hit this year after Focus DIY, one of its customers, went into administration.

Comments