Freight forwarder Xpediator felt the impact of Covid-19 on the first half of its financial year, as turnover dipped, but said that trading was ‘getting close to normal’ as economies emerged from lockdown.
Chairman Alex Borrelli said: “These results show a resilient performance and demonstrate that there has been good demand for our services both in the UK and on the continent despite the impact of Covid-19.
Turnover its its Freight Forwarding division increased 2.2% to £78.4 million (2019: £76.7 million); Transport Solutions saw turnover drop 19.8% to £2.5 million (2019: £3.1 million) while in Logistics and Warehousing turnover decreased by 16.9% to £18.7 million (H1 2019: £22.6 million).
“Where business units have been impacted by the pandemic, the effect is largely temporary and since the half-year trading across all three divisions is getting close to normal,” said Borrelli.
“That said, the group is still mindful that a second wave of Covid- 19 remains a possibility and we continue to review our contingency plans.”
Borrelli also pointed to circa £500,000 of cost savings made in March, which he said would be maintained as annualised savings and would feed through to an improvement in operating profit.