Xpediator, (AIM: XPD) the UK and European freight management services provider posted impressive results on Monday.
The company increased its revenues 54.1% to £179.2 million, after two successful acquisitions during the year.
It reported a 81.2% increase in adjusted profit before tax to £7.2 million, and a 115.2% increase in earnings per share to 3.53p.
Continued demand for transport services and solutions “fueled by consumer expectations for goods to be delivered directly” helped drive like for like revenues up 21.8%.
Shares were trading 11.83% higher at 52p each following the results
Commenting on the results Stephen Blyth, CEO of Xpediator, said "The business is performing extremely well, growing both organically and through acquisition. Good cash generation during the year reflected a strong focus on working capital and increased financial disciplines.”
“The Group has a solid financial base with the financial headroom to support the Group's future ambitions. In 2019 we are on track to exceed £200m of sales, a near threefold increase since 2016."
Commenting on the company’s position regarding Brexit, Group Chairman Alex Borrelli said: “The Group's Brexit team has been working closely with leading transport associations and port authorities to plan ahead.”
“The Group already holds Authorised Economic Operator status which will be critical in being able to support both exporters and importers post Brexit under most forecasted scenarios.”
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