** Logistics co Wincanton drops as much as 8.4 pct & on course for its biggest 1-day pct drop in almost 3 yrs as investors take money off the table following a 9-month rally
** Shares in the company, which hauls goods for Marks and Spencer and WM Morrison, are the 3rd worst performers on the FTSE small-caps
** Company says it continues to trade in line with expectations, drop in fuel prices have not added much to bottom line
** Two brokers cut ratings on the stock to “add” from “buy” following the stock’s 66 pct run higher from the May 2014 lows
** Wincanton says fuel price changes are having no impact on its profitability as under its contracts it typically passes any price risk through to end customers.
** While company says it passes on changes in fuel costs - which account for about 40 pct of overhead of road haulage companies according to trade body RHA - to customers the halving of oil prices was expected by some to have helped margins (RM: email@example.com)