Wincanton PLC Trading Update (6228T)
March 31 2016 - 2:00AM
UK Regulatory
TIDMWIN
RNS Number : 6228T
Wincanton PLC
31 March 2016
31 March 2016
Wincanton PLC
('Wincanton' or the 'Group')
Trading Update
Wincanton, a leading provider of supply chain solutions in the
UK & Ireland, today issues the following trading update ahead
of preliminary results for the year ended 31 March 2016.
The Board is pleased to report that the trading performance of
the Group, as adjusted for the disposal of Records Management,
continues to be in line with expectations as set out in the Half
Year results announcement released on 12 November 2015.
Having completed the disposal of the Records Management business
on 8 December 2015, GBP50m of the Group's GBP75m M&G debt has
been repaid, resulting in a corresponding reduction in the level of
average net debt and financing costs in the last quarter of the
financial year. As planned, we have also utilised our Revolving
Credit Facility to repay GBP34m of US Private Placement debt on its
maturity. The Group also paid a contribution of GBP7m to the
Wincanton Pension Scheme from the proceeds of the disposal of the
Records Management business, bringing the total contributions to
the scheme to approximately GBP21m in the year.
The preliminary results for the year ended 31 March 2016 will be
announced on 9 June 2016.
For further information please contact:
Wincanton plc
Adrian Colman, Chief Executive Officer
Tim Lawlor, Chief Financial Officer 01249 710 000
Buchanan
Richard Oldworth, Victoria Watkins,
Jane Glover 020 7466 5000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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