leadf
logo-loader
viewXpediator PLC

Xpediator only slightly behind half-year expectations despite coronavirus impact

Activity in the logistics division has remained broadly stable while transportation services, after a period of reduced sales, are gathering momentum

Xpediator PLC -

Xpediator PLC (LON:XPD), the freight management services company, has said transportation volumes are moving back towards pre-coronavirus (COVID-19) crisis levels.

Having made a solid start to the year before the pandemic hit Europe, the group’s performance over the first half of the year was only marginally behind expectations management had before the massive disruption to travel conditions.

The group said it has performed robustly during the pandemic with a steady recovery since April.

Activity in the logistics division has remained broadly stable while transportation services, after a period of reduced sales, are gathering momentum.

At the start of the pandemic, the company implemented a number of cost-saving measures, many of which will remain in place when things get back to normal, it said.

Xpediator ended June with net cash of around £4.2mln, up from £3.8mln a year earlier, despite paying out £3.6mln in earn-out fees resulting from acquisitions.

“The group continues to see trading volumes moving towards more normal levels but it is still too early to predict with any certainty how quickly our markets will recover, and we therefore remain unable to provide market guidance at this time; however, the business is financially stable and well placed to grow and capitalise on opportunities that may arise alongside the wider global recovery,” Xpediator said in the trading update.

Quick facts: Xpediator PLC

Price: 37 GBX

AIM:XPD
Market: AIM
Market Cap: £52.4 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Xpediator PLC named herein, including the promotion by the Company of Xpediator PLC in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Market Report: FTSE jumps on AstraZeneca COVID-19 vaccine trial and easing...

FTSE 100 rallied in early trading on AstraZeneca’s COVID-19 vaccine trial and the easing of lockdown restrictions from December. London’s blue-chip index rose 20 to 6,371. AstraZeneca PLC (LON:AZN) announced that the coronavirus (COVID-19) vaccine it has developed with Oxford University was...

on 23/11/20

2 min read