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.