Shares drop 30% after supply chain giant loses key Government contract
Wincanton's shares dropped more than 30% this morning, wiping £100m off the group's value, after it was forced to issue a profits warning.
The supply chain giant had revealed it lost a key Government contract while its wider challenges show no signs of abating.
It now expects pre-tax profits in 2024 to be "materially lower" than current market forecasts of £63m. However it said it remains on track to deliver 5% profit growth in this financial year, which ends this month.
Shareholders reacted badly, with shares dropping 95p ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
