Wincanton hit by slowdown

HAULAGE and logistics firm Wincanton has warned of profits at the lower end of City hopes this year as the sharp slowdown in UK and Irish markets put the brakes on the business.

The group – whose clients include Sainsbury's, Comet and Argos – said it had taken "rapid action" to cut costs and reduce capacity but refused to comment on job losses. Wincanton said weakness in construction and home delivery had a "more marked effect" on the UK and Ireland in the second half.