GXO remains largely Anglo-Saxon
GXO, a spin-off from XPO Logistics, has reported its Q1/2022 results. Revenues amounted to USD 2.1 billion, rising by 14% (from USD 1.8 billion) compared to the same period last year. Its operating income went up by 23.3% to a still-modest USD 37 million (USD 30 million in Q1/2021).
The group said it had made "record first quarter new business wins." These are expected to generate USD 192 million in incremental revenue in 2022, and incremental revenue of approximately USD 217 million has also already been contracted for 2023.
In the company’s e-commerce, omni-channel retail and consumer technology segment, its most profitable vertical, revenues grew by 18.8% to USD 1.1 billion.
Most of GXO’s revenues in Q1/2022 originated in the United Kingdom (USD 704 million) and the USA (USD 681 million). (sh)