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Wincanton selected by HMRC for logistics contract to support customs clearance

The five-year agreement will see Wincanton work together with HMRC to check inbound shipments into the UK, operating two newly established Inland Pre-Clearance sites

Wincanton lorry
The news follows a number of business wins in January

Wincanton PLC (LON:WIN) has been selected by HMRC to provide logistics services to support air and sea freight inspections.

The five-year agreement will see Wincanton work together with HMRC to check inbound shipments into the UK, operating two newly established Inland Pre-Clearance sites with associated transport. HMRC and Border Force undertake targeted checks inland, which help prevent mis-declared goods from flowing into the country.

READ: Wincanton awarded contracts to provide transport, warehousing and co-packing services for Weetabix

Adrian Colman, CEO at Wincanton, commented: "HMRC had a number of specific requirements for suppliers to this contract; from general haulage and container transport experience through to the ability to provide secure, flexible warehousing and an industry-leading safety record.   The key to our approach is the ability to integrate and deliver all aspects through a single management team."

The news comes it won a number of deals in January when Wincanton announced it had been awarded contracts by The Weetabix Food Company to provide transport, warehousing and co-packing services starting from February.

Also in January, the logistics company said it had secured contract renewals with three of its existing customers, comprising three-year contracts with Asda Stores Ltd and British Sugar PLC, as well as a four-year contract with Lucozade Ribena Suntory Ltd.

In early trading, Wincanton shares were flat at 237p.

In a note to clients, analysts at Liberium reiterated their 'buy' rating with a price target of 375p and said: “There is no indication of the likely revenue or profit, but we would expect this to be modestly supportive of estimates from next year onwards (March 2020E).”

Quick facts: Wincanton

Price: 309 GBX

AIM:WIN
Market: AIM
Market Cap: £384.84 m
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