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Xpediator ups dividend 13% as profit improves
StockMarketWire.com
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Freight manager Xpediator hiked its divided after it reported an 81% rise in annual profit.
Pre-tax profit for the year through December increased to £3.9 million, up from £2.2 million year-on-year, as revenue rose 3.7% to £221.2 million.
Xpediator declared a full-year dividend of 1.5p per share, up 13% year-on-year.
It said the growth in revenue reflected a generally resilient performance during Covid-19-impacted months, coupled with a strong performance in the last quarter of 2020.
The company said its 2021 first-quarter trading results were positive and ahead of management expectations.
'We are naturally very pleased to have delivered this performance during such a challenging year,' chief executive Alex Borrelli said.
'Our aim to become a leading international freight management and logistics provider, is unchanged.'
'We continue to examine strategic acquisitions with a focus on building a scalable and risk adjusted platform to support an expanding portfolio of freight management companies across the UK and Europe with a particular expertise on Central and Eastern Europe.'
Story provided by StockMarketWire.com
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