Freight management services company Xpediator saw strong performance from its Pall-Ex and EMT operations, with revenue having increased 64% during the first half of 2017.
Overall group revenue jumped 56% to £49.1m, while the successful integration of EMT has enabled the transfer of all international fashion transport to be consolidated into EMT’s Beckton facility and an increase Group capacity.
The company also reported a 24% increase in adjusted operating profit to £1.3 million (H1 2016: £1.1m), profit after tax increased to £0.53m (H1 2016: £0.16m), while adjusted earnings per share increased to 0.90p (H1 2016: 0.46p).
The company has seen a positive trend in the second half of the year, while negotiations and due diligence with principal acquisition targets progressing well, said the company.
Chairman Alex Borrelli commented: “We are pleased to have successfully raised a net £4 million pursuant to the Group’s AIM listing in August and we welcome our new shareholders. The business is progressing well, like-for-like revenues have increased substantially and all divisions continue to prosper with strong organic growth.
“We have a strategy to grow through developing our existing core activities and by acquisition of complementary businesses that also potentially add new geographic territories, enhance our current base of customers and/or add new services. We are in advanced discussions with certain target companies, as noted in the Company’s Admission Document, which if acquired should provide synergies and cross-selling opportunities as well as being earnings enhancing.
“Following the positive start to the year, the Board is pleased to announce its interim dividend in line with our progressive dividend policy and we remain confident in the outlook for our full year results for 2017.”