03:00 Tue 30 Jul 2019
Xpediator PLC - Trading Statement
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
("Xpediator" or the "Group")
Trading Update
Xpediator, (AIM: XPD), a leading provider of freight management services across the
Due to a number of factors summarised below, while the business is on course to meet market expectations for revenues in the current year of over
As a result of a large customer recently giving notice in respect of its contract with Xpediator's
Currently in its third year of development, EshopWeDrop, the Group's e-commerce business has generated lower volumes in the current year whilst continuing to invest in developing its franchise model in further geographies.
Turnover in Regional Express is currently tracking below that achieved in 2018 which has impacted upon profitability this year. However, this is largely as a result of management focussing attention on securing two valuable and strategic contracts which is expected to generate a material and sustainable profit growth in 2020 and beyond.
As previously announced, the Group has been investing heavily in infrastructure and central resources required to support the enlarged business as well as position the Group for further growth. The rate of this extensive investment has been accelerated and will create the capability required to facilitate the Group's organic growth and buy-and-build strategy. Some additional costs have also been required to prepare for the consequences of a "no-deal Brexit" as we continue to work with our customers to ensure a continuous service.
The Board is pleased that the turnaround of Benfleet continues, Anglia is performing strongly and the Romanian Pallex business and Affinity are also trading well. The generation of operating cash flow also remains satisfactory.
Chief Executive,
Enquiries
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Tel: +44 (0)330 043 2395 |
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Email: info@xpediator.com |
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Tel: +44 (0)20 3470 0470 |
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Tel: +44 (0)20 7894 7000 |
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Tel: +44 (0)20 3151 7008 |
Tim Robertson |
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About Xpediator:
Xpediator is a well-established international provider of freight management services. Established in 1988 by
For more information, please visit: www.xpediator.com.
Alternatively, do follow us on Twitter at @Xpediator or find us on LinkedIn at
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