REG - Xpediator PLC - AGM Statement

XpediatorAnnouncement

09/06/2022 07:00

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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
(http://www.xpediator.com/) .

Alternatively, do follow us on Twitter at @Xpediator
(https://twitter.com/Xpediator)  or find us on LinkedIn at Xpediator Plc
(https://www.linkedin.com/company/11135238/) .

 

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