Xpediator gets a boost as it beats expectations

AIM-listed freight management services firm Xpediator (LON:XPD) saw its share price climb by 17.81% to 43p (as of 14:10 GMT) after it announced that profits for the year ended 31st December would be higher than market forecasts. Management said that they saw strong demand throughout November and December and they now believe that adjusted pre-tax profits will be 40% above those for 2019.

CEO Robert Ross commented: “This is an excellent result to end an extraordinary year. We have focused hard on our core services and by doing so attracted more customers, then combined this with delivering a consistently good customer service. We still have some way to go to reach our potential but it has been a good start.

“2021 has begun well across the Group during which we expect to benefit from the permanent £0.5m of cost reductions made in 2020, the first full year of revenues from the Nidd Transport acquired in October and the ongoing uplift in demand for our services across the Group“.