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Xpediator PLC

Xpediator revenues surge in 2018, readies for Brexit outcome

The AIM-listed freight forwarder has Authorised Economic Operator status, something it says will be critical post the 29 March Brexit deadline.

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Xpediator is talking to port authorities

Xpediator Plc (LON:XPD) says it can support importers and exporters in ‘most forecast scenarios’ for Brexit.

The AIM-listed freight forwarder has Authorised Economic Operator status, something it says will be critical post the 29 March deadline.

WATCH: Xpediator revenues surge in 2018, readies for Brexit outcome

Xpediator has a team working closely with transport associations and port authorities to plan ahead.

“Ultimately, the group's customers will need to understand and find solutions to continue delivering their goods,” it said.

Trading was strong in 2018 with revenues rising by 54% to £179mln helped by two acquisitions - Import Services Logistics and Anglia Forwarding – that added 18% to turnover and brought with them facilities in Felixstowe, Heathrow and Southampton.

Freight forwarding across the Baltics and Balkans were especially strong, while the pallet franchise in Romania continues to do well.

Stephen Blyth, chief executive, said: “The business is performing well, growing both organically and through acquisition where there is a good pipeline of opportunities.”

Shares rose 5% to 48.5p.

Quick facts: Xpediator PLC

Price: £0.32

Market: AIM
Market Cap: £42.84 m
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Watch

Xpediator tipped for another year of strong growth and cash generation

Equity Development analyst David O'Brien gives his take on Xpediator PLC's (LON:XPD) 2018 results. He says despite a hefty Brexit discount, trading continued to be strong throughout the year - accelerating during the second half. O'Brien adds that FY18 was ahead of expectations on all...

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