Operating profit doubles at Xpediator
Operating profit doubled at Xpediator last year to £6.2 million driven by a series of acquisitions combined with organic growth.
Revenue for the year to 31st December was £179.2 million, up from £116.3m the year before.
Last year the group acquired Anglia Forwarding and Import Services. This year, said chief executive Stephen Blyth, it was working on four or five potential takeover targets.
Historically, Xpediator, through its Delamode business, has focused on European road freight services, but is now targeting growth in air and sea.
In freight forwarding, revenue was £136.9m, up from £93.3m in 2017, while operating profit was up from £2.4m to £3m.
In warehousing and logistics, revenue rose from £18.4m to £35.9m, with operating profit rising from £900,000 to £3m. The group’s Pall-Ex franchise in Romania performed particularly well and was building a new cross dock facility in Subiu, said Blyth.
The Transport Services division increased revenue to £6.4m from £4.6m last year, while operating profit rose from £2m to £2.3m.
Blyth said: “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.”