Wincanton PLC (AIM:WIN) said it continues to perform in line with current market expectations for the full year to end-March 2022.
The consensus forecast is for an adjusted pretax profit of £56.5mln for the year, within a range of £55.5mln to £57.0mln.
Fourth-quarter revenue is expected to increase 13% on an underlying basis excluding disposed businesses, the logistics company said in a trading statement.
"Wincanton has delivered a strong final quarter performance, maintaining the positive momentum we have seen throughout the year and with all four parts of the business contributing positively to our growth,” said chief executive James Wroath.
Full-year revenue for eFulfilment jumped 56%, including the acquisition of Cygnia, or 41% excluding the acquisition; while Public and Industrial full-year revenue rose 18%.
The group noted that driver and labour shortages had stabilised following the peak activity of the previous quarter and that it has been successful in increasing the number of drivers by 260 to 5,360.
READ: Wincanton shrugs off lorry driver shortage as ecommerce demand surges
Wincanton said it had also reviewed its supply chains and procurement channels, following Russia’s invasion of Ukraine and the subsequent economic sanctions placed on Russia, and gave an update on fuel prices.
“Management will continue to closely monitor key suppliers, though the group remains confident its supply channels are robust. Wincanton is largely protected from the recent increases in fuel prices through the structure of its contracts, however the group continues to work closely with customers to manage these cost pressures.”
It plans to announce its full-year results on 20 May.