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Profits fall at Xpediator

[ September 26, 2022   //   ]

UK and Central Europe specialist forwarder Xpediator reported profits before tax of £0.2m in the first half of 2022, compared with £2.3m in the first half of 2021. Adjusted earnings per share were 0.27 pence compared with 1.58 pence in H1 2021.

The company said that the fall in profits was primarily due to a combination of higher costs, weaker than planned trading by some areas of the business in the UK, and a non-cash goodwill write down of £1.5m. However, it added: “Demand for the Group’s freight management services is robust as shown by the 50% increase in revenues…Despite this, the Company remains on track to meet full year management expectations due to the ongoing strength in customer demand and the improving performance of those UK businesses which under-performed in the first half.”

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