15th May 2018 10:41
LONDON (Alliance News) - Recently listed logistics firm Xpediator PLC said Tuesday profit and revenue expanded significantly in 2017, driven by organic growth as its markets remained in "growth mode."
Pretax profit expanded to GBP2.4 million from GBP1.5 million in 2016. This was after revenue rose to GBP116.3 million from GBP72.8 million the year before.
Xpediator declared a 0.64 pence per share final dividend from nothing prior. For the full year, Xpediator will pay 0.987p per share. In August, Xpediator had its initial public offering at 24.0 pence per share, valuing it at GBP24.2 million.
Shares in Xpediator were 2.3% higher on the day Tuesday at 61.90 pence.
"2017 was a very successful year for the business as shown by our 60% increase in revenues which was primarily driven by organic growth across all three divisions," Xpediator Chief Executive Officer Stephen Blyth said. "The combination of operating between mature western economies and fast growing CEE markets together with the ever increasing demand for ecommerce and fulfilment is creating a very positive market for our transportation services. We are therefore well placed to deliver a successful outcome for 2018."
Xpediator Chairman Alex Borelli added: "The markets in which we operate are in growth mode. Demand for road transportation is increasing across Europe, supported by economic stability together with a burgeoning e-commerce sector. Xpediator is well placed to capitalise on this positive market environment and has invested behind the existing business and in complementary acquisitions to capture an increasing share of the freight management market in Europe and further afield."
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