Wincanton boss unfazed by Brexit prospect

Britain’s logistics industry can cope with a vote to Leave in the EU referendum, the boss of trucking giant Wincanton has suggested as he revealed dividends would be reinstated.

Adrian Colman said: “Brits will still need food in their cupboards, clothes on their backs, fuel in their cars and a roof over their heads, regardless of the referendum outcome.”

The logistics firm saw sales rise 3.6% to £1.1 billion in the year to March 31, helped by new contract wins with B&Q and Halfords.

Wincanton said it would start with a recommended final dividend of 5.5p for 2015/16, its first in five years.

Colman said:“After a year of continued progress, the reintroduction of dividends is an important milestone and an indicator of the health of Wincanton."

He added: "We believe that the business is on a strong foundation, having reduced debt and onerous lease obligations over the last few years, to enable it to invest for future growth as well as to meet the needs of its key stakeholders."

Shares jumped more than 10%, or 18p, to 195p.