Upturn for Xpediator
UK-based freight forwarder Xpediator has reported its interim results for H1/2021. Group revenue amounted to GBP 126.6 million (EUR 147.7 million), up 27.1% from GBP 99.6 million (EUR 116.2 million) i H1/2020. Adjusted profit before tax remained low at GBP 3.6 million (EUR 4.2 million), but improved against H1/2020 by 42% (GBP 2.1 million/EUR 2.5 million).
Freight forwarding revenue in particular showed a strong increase of 28.5% to GBP 100.8 million (EUR 117.6 million), driven primarily by growth in the CEE markets, enhanced sea freight rates and successful implementation of a UK customs clearance department.
The freight forwarding division includes businesses in UK and CEE operating under the Delamode brand. It specialises in moving freight, primarily internationally by road, rail, air and sea, and continues to be the largest core service of the group, accounting for 79.6% of revenue.
The group, which was founded in 1988, is expecting a further strong operational and financial performance until the end of the year. (sh)