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Xpediator jumps as it appoints commercial director of subsidiary as COO for UK Logistics

Jonathan Wright had previously served as commercial director of Xpediator's subsidiary Delamode Distribution

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Prior to joining Xpediator, Wright was managing director at UK transportation firm Taygroup

Xpediator PLC (LON:XPD) shares jumped in mid-morning trading Monday as it appointed Jonathan Wright, the commercial director of its subsidiary Delamode Distribution UK Ltd, as the new chief operating officer for UK Logistics.

The freight management firm said Wright had invested in Delamode back in 2014 and had overseen “significant growth in a short period” during his tenure as part-time commercial director.

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

Prior to joining Xpediator, Wright had served as managing director at top 100 UK transportation firm Taygroup before it was bought by logistics firm Bibby Distribution in 2010.

He has also held a number of consultancy roles across the industry.

Stephen Blyth, chief executive of Xpediator, said he was confident Wright’s “drive and skillset will prove highly valuable”.

Wright said of his appointment: "Xpediator has doubled in size over the last two years and has clearly set out its stall to continue on a similar trajectory. I am therefore looking forward to working with the teams as the Group develops into one of Europe's leading industry players."

New warehouse expands capabilities in Southampton

In a separate announcement, Xpediator also said one of its subsidiaries, Regional Express, had signed a 10-year lease on a 19,289 square foot warehouse near the port of Southampton.

The firm said the new facility would “support the growth and acquisition of new e-commerce related business” for Regional, which already acts as part of a network of global business solution providers for e-commerce giant Amazon Inc (NASDAQ:AMZN).

Blyth said the warehouse would be “a further asset within the group” that could prove “additionally valuable should there be a hard Brexit”.

Shares were up 3.6% at 43.5p.

-- Adds shares price and warehouse deal details --

 

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Price: 36 GBX

AIM:XPD
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Market Cap: £48.96 m
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