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Xpediator meets targets with 54% revenue growth

08:50, 18th February 2019
Abraham Darwyne
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Xpediator (XPD) FOLLOW the freight management services provider, recorded significant increases in sales and profits in 2018, according to a trading statement released by the company.

The company revealed that over 14,000 customers contributed to a 54% increase in revenues to £179 million, with no one customer accounting for more than 2% of revenues.

Stephen Blyth, CEO of Xpediator 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."

The company has previously said that it is one of the few British businesses that is likely to benefit from Brexit.

It has been working closely with leading transport associations and port authorities, and holds the Authorised Economic Operator status, which it said will allow it to support both exporters and importers post Brexit under “most forecasted scenarios”.

Shares in Xpediator were up 5% to 48.5p a share

XPD price chart

In 2018, the company acquired Import Services Logistics and Anglia Forwarding which contributed to an additional 18% in revenue and over 400 new customers, including greater Amazon activity.

The company also stated that there remains “a good pipeline of acquisition opportunities” that would enhance its geographical capabilities, particularly in the growing central eastern european region.

It reported that freight forwarding revenues across the Baltics and Balkans have grown significantly, its franchise in Romania also has been performing strongly and its E-fulfilment in the UK continues to grow rapidly, but still remains a relatively small part of the business overall.

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