10th Feb 2020 11:53
(Alliance News) - Xpediator PLC had a double-digit revenue rise in 2019, the freight management services firm said on Monday, helped by both organic growth and the contribution of new acquisitions.
Xpediator said revenue climbed 19% to GBP212 million from GBP179.2 million, "driven by a healthy mix of organic and acquisition led growth".
The company added that there was organic sales growth of 10% year-on-year and an 8.6% boost from new acquisitions.
Adjusted pretax profit is tipped to be slightly above GBP5.0 million, in line with guidance given in September, but down 31% from GBP7.2 million in 2018.
Chief Executive Officer Stephen Blyth said: "2019 saw the group increase sales by GBP33 million, an excellent achievement and one we intend to build upon in 2020. We have expanded the services we are able to offer, have attracted more customers and see further opportunities to increase the number of services we provide including assessing how various new technologies might further improve operations whilst continuing to monitor the cost base of the group.
"Despite the challenges incurred during 2019, the core businesses have performed strongly, and the board remains confident in the outlook for the group."
Xpediator added that although it has a "healthy pipeline" of potential acquisitions, its focus will be on improving the integration of its newer units.
Among its newer assets include contract logistics and warehousing business Import Services Ltd, acquired in July 2018 and freight forwarder Anglia Forwarding Group Ltd, which it agreed to buy in June 2018.
Shares in the company were 2.0% higher at 28.55 pence each in London on Monday morning.
By Eric Cunha; [email protected]
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