- 10 February 2020
- Transport / Logistics Services
Posting a pre-tax profit of £5 million and a strong growth in turnover, logistics and warehousing company Xpediator reports that it ‘performed strongly’ in 2019.
Thanks to a change programme involving reconfiguring its Braintree depot from storage to fulfilment, the company gave warning that pre-tax profit would be ‘materially below market expectations’ in July 2019. Xpediator also had labour rate increases and its e-commerce businesses had lower volumes.
Turnover at the company grew by 19% year-on-year, with organic sales up £18 million (10.4%) and acquisitions generating £15 million of additional turnover.
Xpediator chief executive Stephen Blyth said: “2019 saw the group increase sales by £33 million, an excellent achievement and one we intend to build upon in 2020.”
Meanwhile freight forwarding turnover grew by 16% and warehousing and logistics grew by 32%. Transport solutions however fell by 3%.
“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,” he said.
Blyth concluded, “Despite the challenges incurred during 2019, the core businesses have performed strongly, and the board remains confident in the outlook for the group.”