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Wincanton : adds over 500,000 sq ft to its property portfolio

10/19/2020 | 05:00am EDT

Wincanton has acquired over half a million square feet in property since the beginning of the Covid-19 pandemic, as part of its ongoing growth strategy.

In October, Wincanton agreed a lease on a 250,000 sq.ft warehouse near Bristol to support its contract with EDF Energy's Hinkley Point C nuclear power station project. Wincanton is the official 'tier 1' warehouse and transport service partner for the megaproject. Throughout the construction process, it is providing storage, handling, asset tracking and transportation for incoming materials from a global supplier base.

In July, Wincanton acquired the lease on a 155,000 sq.ft eFulfilment centre in Nuneaton, Warwickshire. This now houses operations for home furnishings brand, Loaf, and health and beauty company, Neal's Yard Remedies. The new centre will accelerate growth for Wincanton in online home, and health and beauty eFulfilment. As part of its W2 innovation programme, the company plans to make further investments in cloud-fulfilment systems and robotics.

During the summer, Wincanton also announced the opening of a new 128,000 sq.ft distribution centre in Prologis Park, Stafford, to support growth for a key customer, Screwfix. This site will assist the major retailer of trade tools, accessories and hardware products with its plans to enhance customer proposition and continue its wider business growth. Wincanton's partnership with Screwfix was recognised at the 2020 Motor Transport Awards, winning the 'Operational Excellence Award'.

Ian Henderson, Group Property Director at Wincanton, commented:

'These latest additions to our property portfolio demonstrate our commitment to our existing customers, and also support our offer to new customers with a variety of property sizes and types across the UK and Ireland. This diverse property portfolio coupled with our industry leading expertise makes us well placed to offer tailored and dynamic support to a wide range of businesses.'

Ian Keilty, Chief Operating Officer at Wincanton, said:

'The recent expansion in our property portfolio is a clear demonstration that even in the most challenging times, Wincanton has the capability to help both current and new customers in meeting their ambitions by finding the best sites in the best locations and implementing the changes to their supply chains quickly and seamlessly.'

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Wincanton plc published this content on 19 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2020 08:59:03 UTC


© Publicnow 2020
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Sales 2022 1 276 M 1 774 M 1 774 M
Net income 2022 43,8 M 60,9 M 60,9 M
Net cash 2022 15,8 M 22,0 M 22,0 M
P/E ratio 2022 11,7x
Yield 2022 2,80%
Capitalization 514 M 715 M 715 M
EV / Sales 2022 0,39x
EV / Sales 2023 0,37x
Nbr of Employees 19 500
Free-Float 98,1%
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Last Close Price 414,00 GBX
Average target price 516,20 GBX
Spread / Average Target 24,7%
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Managers and Directors
James Wroath Chief Executive Officer & Director
Timothy Charles Lawlor Chief Financial Officer & Executive Director
Martin Peter Read Chairman
Richard Gifford Chief Information Officer
Ian Keilty Chief Operating Officer
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