Xpediator say it won’t deliver on profit expectations

AIM-listed freight management firm Xpediator (LON:XPD) has seen its share price fall by 39.80% to 30.70p (as of 14:35 BST) after saying that profits before tax for the year ending 31st December would be below guidance. The company is continuing to invest in a number of divisions while volumes and revenues are dropping in the firm’s e-commerce and regional express divisions.

Chief executive Stephen Blyth said: “We are disappointed to be below our profit targets for this year, however, critically customer demand for our services remains strong reflected in our continued sales growth which, together with the investments we have made across the business, particularly into information technology makes us confident in the Group’s future growth prospects for 2020 and beyond“.