Central European business exceeds expectations
UK-based freight transport company Xpediator has reported its unaudited interim results for H1/2022. Revenues went up significantly by 33% to GBP 189.3 million (H1/2021: GBP 126.6 million). The company spoke of "continued positive trading in the Central Eastern European (CEE) freight forwarding operation, in spite of the conflict in Ukraine."
Yet, the group just delivered an ebitda of GBP 3.1 million (H1/2021: GBP 3.6 million), after adjusting for a GBP 1.5 million goodwill impairment to Delamode Anglia.
Freight forwarding revenue rose by 54% to GBP 155.5 million (H1/2021: GBP 100.8 million), generating an operating profit of GBP 5.9 million (H1/2021: GBP 4.1 million), principally driven by the group's CEE operations. The home market shows a different picture, however, since restructuring plans for the underperforming UK operations have begun. (sh)