News / Wincanton contract logistics profits rise as its faith in the UK market bears fruit

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Investors in UK logistics firm Wincanton took the opportunity to sell shares in the company after it reported half-year underlying profit increase of 2.9% to £24.9m.

Analysts said the profit-taking moves came after a sustained period in which Wincanton’s share price had consistently risen.

Joshua Raymond, chief market strategist at Cityindex.co.uk, said: “We saw investors bank profits on their Wincanton shares this morning, despite the logistics firm reporting a rise in first-half underlying profit as sentiment weighed on a drop in tanker ...