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Supply chain company Wincanton hiked its dividend after reporting higher first-half profit as revenue was boosted by ongoing growth in e-commerce.
For the six months ended 30 September 2021, pre-tax profit was up 31.4% to £25.1 million as revenue increased by 19.3% to £690.3 million.
'The growth of eCommerce activity, including the start-up of the dark store operation for Waitrose, has led to revenue growth of over 50% in the digital & eFulfilment sector,' the company said.
'Driver cost headwinds mitigated by business model; less than 20% of group revenue is closed book transport of which price increases or exits have been agreed on c.90%,' it added.
The interim dividend was raised by 40% to 4.00 pence per share
Looking ahead, Wincanton said it remained on track to deliver full year profits consistent with market expectations.