Wincanton says it will "emerge stronger" from the recession, having "reacted quickly" to reduce its costs.
The operator was commenting today as it revealed a 1.2% drop in underlying pre-tax profit for the 12 months to March 2009, down from £41.8m to £41.3m.
Underlying operating profit for the period rose 13.5% to £59.5m from £52.4m last year.
Revenue increased 9.1% to £2.4bn in 2009 – up from the previous year's £2.2bn.
The financial year has also seen high street chain Woolworths, a long-standing customer, go into administration.
A statement from Wincanton reads: "Against the background of a significant second-half deterioration in the economies in which we operate, Wincanton has reacted quickly to reduce costs and adjust its operational and functional overhead base to reflect market conditions."
The Wincanton board has decided to maintain the full-year dividend at 14.91p – the same level as last year.
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