Xpediator PLC AGM Statement (2400O)
09 June 2022 - 4:02PM
UK Regulatory
TIDMXPD
RNS Number : 2400O
Xpediator PLC
09 June 2022
9 June 2022
XPEDIATOR PLC
("Xpediator", the "Company" or the "Group")
AGM Statement
Xpediator, (AIM: XPD), a leading provider of freight management
services across the UK and Central and Eastern Europe ("CEE"), will
make the following statement at its Annual General Meeting ('AGM')
being held at 11.00am today. The statement will be made by Gillian
Wilmot, the new Interim Chairman of the Board.
Financial Performance
Following a strong initial start to trading in the year,
particularly from the Group's CEE operations, the Company has
continued to trade well despite the effect of Russia's invasion of
Ukraine, the impact from which, to date, has been largely offset
with increased volumes in other markets.
The Group is in a good position, and with its asset light base,
it is shielded from some energy and other inflationary cost
pressures, but not all.
Board Changes and Company Review
On 1 June 2022, Richard Myson returned to the Company as Group
CFO, and Gillian Wilmot was appointed Interim Chairman alongside
Mike Stone who joined as Interim CEO. Richard served as CFO for
Xpediator at the time of the IPO and in total has 15 years of
extremely valuable experience with the business. Gillian and Mike
bring significant experience and skills from senior management and
Board roles in other companies, especially in leading teams to
improve performance and business results.
The new management team are focused on providing close support
to the senior management teams of all three divisions whilst
conducting a comprehensive review of all aspects of the
business.
Outlook
The Company recognises the economic uncertainty and resulting
potential headwinds created by the events in Ukraine driving up
inflation and creating caution around business and consumer
spending and constantly reviews its plans and performance to
mitigate these. These matters aside, the Company continues to trade
well and will enter the traditionally stronger second half of the
year well placed to continue to perform.
Finally, we are encouraged by the potential for further growth
within the business. In particular, there are clear organic
opportunities to improve the underlying performance of the UK
business, and the new management team are well placed to address
any other challenges and to capitalise on any opportunities that
arise within the wider business.
For enquiries, please contact:
Xpediator plc Tel: +44 (0)330 043
2395
Mike Stone, Interim CEO
Richard Myson, CFO
Zeus (Nominated Adviser and Broker) Tel: +44 (0)20 3829
5000
David Foreman, Jamie Peel, James Hornigold
(Investment Banking)
Dominic King (Corporate Broking)
Novella Communications (Financial Public Relations) Tel: +44 (0)20 3151
7008
Tim Robertson
Safia Colebrook
About Xpediator:
Xpediator is a well-established international provider of
freight management services. Established in 1988, the Group's
international network of offices provides road, sea and air freight
services, together with logistics and warehousing in the UK and
Romania. The business offers integrated freight management within
the supply chain logistics and fulfilment sector, through its three
main areas: freight forwarding, logistics and warehousing and
transport services. With headquarters in Braintree, Essex and
country offices in nine CEE countries across 38 sites, the Group
currently employs over 1,200 people and was successfully listed on
London's AIM Market in 2017.
For more information, please visit: www.xpediator.com .
Alternatively, do follow us on Twitter at @Xpediator or find us
on LinkedIn at Xpediator Plc .
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END
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