Xpediator (XPD) revealed that 2019 delivered 19% increase in revenues to £212 million, the company said in a trading update on Monday.
The freight management services firm said it also expects pre-tax profits to be roughly above £5 million, and net cash to be £6.9 million.
The group’s revenues were driven by a combination of a 10.4% increase in organic growth and an 8.6% increase in growth from acquisitions.
Stephen Blyth, CEO of Xpediator said, "2019 saw the Group increase sales by £33 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.”
Xpediator’s Freight Forwarding sales were up 16%, Logistics & Warehousing sales were up 32%, and Transport Solutions sales were down 3%.
The Baltic region was a key area of growth for the Freight Forwarding division, particularly in Lithuania and Estonia, the company said.
Xpediator also told investors its issues at Benfleet and Import Services now resolved and both are “well positioned” to deliver growth in 2020.
Mr. Blyth said: “Despite the challenges incurred during 2019, the core businesses have performed strongly, and the Board remains confident in the outlook for the Group."
Xpediator said it expects the project in Regional Express, which is now operational with offices established in both China and Germany, to experience “substantially increased” volumes during 2020.
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