Xpediator sees profits up 40%

UK and Central European freight management services provider Xpediator expects to report profits before tax for the year end 31 December some 40% above that in financial year 2019.

Demand led by the pandemic across the UK and Europe drove profits up to around £7.2 million for the year end 31 December 2020. Freight forwarding, warehouse and logistics services had high demand and this coincided with pre-planned cost savings measures that combined to outstrip the challenges posed by the pandemic on the ground.

Commenting on the trading performance, Robert Ross, CEO, said: “This is an excellent result to end an extraordinary year. We have focused hard on our core services and by doing so attracted more customers, then combined this with delivering a consistently good customer service. We still have some way to go to reach our potential but it has been a good start.

2021 has begun well across the Group during which we expect to benefit from the permanent £0.5m of cost reductions made in 2020, the first full year of revenues from the Nidd Transport acquired in October and the ongoing uplift in demand for our services across the Group.”