- First half adjusted pre-tax profit up 74 per cent to £3.6m on 27 per cent higher revenue of £126.6m.
- Freight forwarding key driver of growth.
- Annual pre-tax profits expected to exceed £8.5m, up from £7.2m in 2020.
In late June, Braintree-based international freight management services group Xpediator (XPD: 67p) raised full-year pre-tax profit guidance by more than 10 per cent to £8.5m. The earnings risk is still skewed to the upside as the directors only need to repeat last year’s second half performance to hit forecasts.
In the first half, Xpediator’s freight forwarding operating profit (pre-central overheads) surged 54 per cent to £4.1m on 28 per cent higher revenue of £101m buoyed by more mature businesses in Lithuania and Bulgaria, higher sea rates (which are passed on in full to customers), and extra UK customer clearance work for clients post Brexit.