Xpediator reports 'significant increases' in sales and profits
By Iain Gilbert
Date: Monday 18 Feb 2019
(Sharecast News) - Freight management service Xpediator recorded "significant increases" in sales and profits for the twelve months ended 31 December.
Xpediator saw a 54% increase in total revenues to £179m, generated by over 14,000 customers with no one customer accounting for more than 2% of revenues.
The AIM-listed outfit said Import Services Logistics and Anglia Forwarding, both acquired in 2018, contributed another 18% to group revenues.
Revenues in the Baltics and Balkans grew "significantly" against challenging prior year comparatives and its Romanian franchise also "performed strongly" against "challenging prior year comparators".
Xpediator also told investors there was a "good pipeline of acquisition opportunities" which met its acquisition criteria of enhancing its geographical capabilities and extending its presence in air and sea transportation.
Chief executive Stephen Blyth said: "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."
As of 1030 GMT, Xpediator shares had climbed 6.52% to 49p.
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