UPDATE 2-Wincanton profit falls, sees stability returning

Thu Nov 5, 2009 10:08am GMT
 
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* H1 pretax profit 18 mln stg vs 21.4 mln stg

* Holds interim dividend at 4.83 pence

* Extends banking facilities

* Shares down 0.9 pct

(Adds company, analyst comment, shares, details)

By Rhys Jones

LONDON, Nov 5 (Reuters) - British haulier Wincanton Plc (WIN.L) reported a 16 percent fall in first-half profit, hit by lower client activity and restructuring costs, but said stability was returning and the outlook was positive.

"There has been much more stability in the last four to six months but the helter-skelter that we were on 12 months ago seems to have gone and hopefully that will lead to growth," Chief Executive Graeme McFaull told Reuters on Thursday.

The company, which transports goods such as food, documents and materials for recycling around the UK and mainland Europe, posted an underlying pretax profit of 18 million pounds ($29.7 million) on revenue 9.9 percent lower at 1.8 billion pounds for the six months to the end of September.  Continued...

 

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