Logistics giant Wincanton has said it is “extremely disappointed” after it lost a key government contract.
The Wiltshire-based supply chain manager issued a profit warning to investors on Tuesday (March 7), as it announced HMRC had decided to switch to another logistic provider to support its UK customs arrangements at inland border facilities, following a retendering process
Shares in the London-listed company plummeted by around 30% in early trading, with bosses saying they now expected a reduced profit before tax for £63m for the 2024 financial year. The contract will be transferred by June 2023.
