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Xpediator (XPD) claims it is looking strong in the face of Brexit challenges after announcing that revenue surged 54% over the last 12 months.
A trading update, issued by the 3PL in advance of its April annual results, showed income reached more than £179m in 2018, putting it in line with market expectations.
Transport research analyst Cantor Fitzgerald Europe said this was good news for investors.
“Brexit is a risk for all companies but XPD’s customs clearance expertise and authorised operator status should prove valuable,” it said.
“Exposure to fast-growing central and eastern European supply chain markets also sets XPD apart from other operators.”
In its trading update, XPD said its Brexit team had been working closely with transport associations and port authorities as it sought “to carve a pathway through the forthcoming challenges”.
It has secured authorised economic operator (AEO) status, which the UK Freight Transport Association (FTA) stressed would be vital in the event of a no-deal Brexit.
Chief executive Stephen Blyth applauded his colleagues for helping to build the company, both through a mixture of acquisitions and organic growth.
“We are continuing to invest across the group to ensure we have the platforms and resources capable of delivering future growth,” he said. “And furthermore, ensuring we remain well placed to maximise the opportunities that are increasingly available.”
Among its acquisitions in 2018 were Import Services Logistics and Anglia Forwarding, which added 18% in revenue, 400 new customers and more business with Amazon. Additionally, it noted a significant expansion in its UK gateway capabilities with facilities in Felixstowe, Heathrow and Southampton, and indicated further acquisitions are being lined up.
“There is a good pipeline of acquisition opportunities which meet the acquisition criteria of enhancing the group’s geographical capabilities,” said XPD. “Especially in the fast-growing CEE region, and extending the company’s presence in air and sea transport.”
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