As part of the Xpediator Plc Group, a leading provider of freight management services across the UK and Central and Eastern Europe, we are pleased to announce the Group’s final results for the twelve months ended 31 December 2020.
2020 Financial Highlights
Generated Group turnover of £221.2m (2019: £213.2m) an increase of 3.7% reflecting a generally resilient performance during the Covid-19 impacted months coupled with a strong performance in the last quarter of 2020Delivered a 38.5% increase in adjusted profit before tax of £7.2m (2019: £5.2m) helped by early cost reductions in March 2020, alongside some core markets benefiting from Covid-19 related changes and with areas of weakness (e.g. high street retail and transport services) being offset by the diversity of businesses across multiple markets
2020 Operational Highlights
– Freight Forwarding delivered revenue of £171.0m, an increase of 7.1%
– Warehouse & Logistics delivered revenue of £44.5m, a decrease of 6.3%
– Transport Services delivered revenue of £5.7m, a decrease of 6.9%
Alex Borrelli, Chairman, commented:
“We are naturally very pleased to have delivered this performance during such a challenging year. Increasing both revenues and profitability is an excellent achievement and we think confirms the strength of the platform the Group has. Added to this, we now have a new senior management team led by CEO Robert Ross whilst retaining the expertise and knowledge of Stephen Blyth, the founder of the business, on the Board.
Our aim to become a leading international freight management and logistics provider, is unchanged. We continue to examine strategic acquisitions with a focus on building a scalable and risk adjusted platform to support an expanding portfolio of freight management companies across the UK and Europe with a particular expertise on Central and Eastern Europe. 2021 has begun well and we are quietly confident of our ability to achieve our objectives.”