18th Feb 2019 09:09
LONDON (Alliance News) - Xpediator PLC on Monday predicted a significant increase in sales and profit for 2018, in line with market expectations, due to positive organic growth plus acquisitions.
The freight management services provider also said that its Brexit team has been working closely with leading transport associations and port authorities to plan ahead. Xpediator holds Authorised Economic Operator status which will be able to support both exporters and importers post Brexit under most forecasted scenarios.
Xpediator recorded a 54% rise in total 2018 revenue to GBP179 million from GBP116 million a year ago, generated by over 14,000 customers.
Xpediator said the acquisition of Import Services Logistics and Anglia Forwarding contributed 18% in annual revenue.
Freight forwarding revenue across the Baltics and Balkans have grown significantly against prior-year comparators, and the Romanian franchise also performed strongly, the company added.
"The business is performing well, growing both organically and through acquisition. We are continuing to invest across the group to ensure we have the platforms and resources capable of delivering future growth and ensuring we remain well placed to maximise the opportunities that are increasingly available," Chief Executive Stephen Blyth said.
The stock was trading 7.0% higher at 49.20 pence each on Monday morning.
Xpediator is scheduled to release its 2018 results in April.
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