Xpediator raises FY guidance following strong H1

Freight management services group Xpediator increased full-year guidance on Friday on the back of "positive trading trends" seen throughout the first six months of the year.

Xpediator stated demand for the group's services across all three of its divisions had been "strong", with those parts of the transport and logistics and warehousing divisions that were impacted by the Covid-19 pandemic, now all trading positively.

The AIM-listed group acknowledged that like many logistics businesses, the majority of its profits were made in the second half of the year. However, Xpediator highlighted that year-to-date results had continued strong trading trends seen since early 2021, with the board now believing the business has been "well placed" to deliver full-year pre-tax profits of over £8.5m.

Chief executive Robert Ross said: "We have had a good first half which has positioned us well for a strong outcome for the full year. We are bringing the group closer together unifying IT, people and brands, the benefits of which are starting to come through."

As of 0930 BST, Xpediator shares were up 9.72% at 79.0p.