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This is why the Wincanton share price has soared 13%!

first_img Investor appetite for UK shares has picked up fractionally in mid-week trade. The FTSE 100 was last up a little, for instance, and back through 6,700 points as trader confidence steadied. But general buying interest remains constrained by the ongoing Covid-19 crisis. Wincanton’s (LSE: WIN) share price, by contrast, has rocketed on Wednesday following the release of fresh trading details.At 307p the logistics giant is trading at its most expensive levels since the same point last January. Here’s why this UK share has soared 13% from last night’s close.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Profits to beat forecastsWincanton — which provides logistics and supply chain services — said it had returned to sales growth in the final three months of 2020.The small-cap business has “seen a continued improvement in revenues and profitability since the initial impact of Covid-19 early in 2020”. Because of this, it saw group sales rising 10% year-on-year in its third fiscal quarter following recovery and stabilisation in prior months.This strong trading led Wincanton to predict that full-year profits for the current fiscal period (to March 2021) will come in “materially” ahead of expectations. This is on the proviso that the business doesn’t endure any “unforeseen severe Covid-19 impact in the closing months of the year,” it said.Incidentally, it also said current coronavirus lockdowns aren’t expected to have a “significant” impact on its trading performance.Wincanton reports broad-based growthThe company enjoyed revenues growth across all four core segments. And the business reported its strongest growth in Digital and eFulfilment. The UK share saw revenues here ballooning 40% from the same 2019 period as Covid-19 lockdowns increased online shopping volumes.In addition, its said its third-quarter revenues in  the Public and Industrial sector had “been boosted by strong volumes in construction and the increased utilisation of the Group’s shared transport network.”And it noted that the business benefited in recent months from a series of recent contract wins. These include a mandate to provide logistics services at several Inland Border Clearance Centres. A contract for the storage, order fulfilment and delivery of testing kits to priority locations has boosted work volumes too.Meanwhile, Wincanton added that “further significant new business in Digital and eFulfilment for both Waitrose and Dobbies will commence before year-end.”Optimistic wordsThat’s all good news James Wroath, chief executive of Wincanton, was upbeat. He said: “The strong performance of our underlying business and the new contracts we are implementing in our strategic growth markets are clear evidence that we are delivering on our strategy even in the difficult current climate.”City analysts reckon Wincanton’s full-year earnings will slip 24% in the current fiscal period. But they reckon annual profits will rebound 14% in financial 2022. At current prices, this UK share trades on a forward price-to-earnings (P/E) ratio of 11 times. Simply click below to discover how you can take advantage of this. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images. FREE REPORT: Why this £5 stock could be set to surge See all posts by Royston Wild Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.center_img Our 6 ‘Best Buys Now’ Shares Royston Wild | Wednesday, 20th January, 2021 | More on: WIN Enter Your Email Address Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. Get the full details on this £5 stock now – while your report is free. This is why the Wincanton share price has soared 13%!last_img

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