Freight News, Logistics, Business, Forwarding

Xpediator reaches record revenue in 2021

[ April 4, 2022   //   ]

UK-based and Central and Eastern European forwarder Xpediator Group said that its revenue grew to a record £296.6m in the 12months ended 31 December 2021with adjusted profit before tax up 25% to £9.1m. It also said the first two months of 2022 are trading ahead of expectations and March 2022 in line with expectations, in spite of Russia’s invasion of Ukraine.

The Group’s largest division, Freight Forwarding delivered revenue of £233.6m, an increase of 37%; Warehouse and Logistics revenue was £56.7m, an increase of 28%; and Transport Services delivered revenue of £6.3m, an increase of 10%.

Interim chairman, Rob Riddleston, commented: “Despite having to navigate around restrictions imposed last year due to the pandemic, we are pleased to report that the Group delivered a record trading year with significant uplift in both sales and profits. I believe this performance reflects the strength of the operating platform that has been established across the UK and Europe.

He added: “Looking ahead, the macro environment poses clear challenges for all businesses from rising energy prices to the significant increase in geopolitical uncertainty caused by the tragic events unfolding in Ukraine. Xpediator will not be immune from these challenges but to date, trading has been resilient.”