Xpediator PLC (AIM:XPD) says freight trade is booming even with the problems elsewhere from supply issues and Brexit disruption.
Revenues jumped by more than a third in the past twelve months to over £300mln, the transport and freight forwarding group said today in a trading update.
Underlying profits for the year will be well in excess of £8.5mln (2020: £7.2mln million), in line with the upgraded guidance given in June 2021, the statement added.
Xpediator said it wants to expand the business and several acquisition targets are under consideration. Net debt at the year-end was £4.9mln.
The group said revenues in the second half of 2021 were boosted by Central Europe, increased sea freight volumes and uplift from UK customs clearance.
“Lithuania and Bulgaria are again expected to be significant contributors to the uplift in performance,” added the statement.
The bundled fuel and toll business, which operates in Southern Europe, has continued to recover with increased freight movement and expansion into the Balkans.
In the UK, a new 200,00sq ft expansion of the warehouse at Southampton will start to contribute in 2022.
Wim Pauwels, interim chief executive, said: "We see excellent potential for this business to grow organically and by acquisition.
The new warehouse in the port of Southampton will be a significant factor in 2022 together with a range of growth projects and potential acquisitions we have in progress across the business."