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Xpediator expects demand to remain 'sufficiently robust' amid Covid-19 crisis

By BFN News | 09:43 AM | Tuesday 31 March, 2020


Freight management group Xpediator said it expected demand for its services to remain 'sufficiently robust' though with more volatility amid the Covid-19 crisis. The company said activity levels so far this year had remained broadly in line with management expectations, with high demand from some sectors and other areas slowing. Still, it said it was not practical to give longer-term guidance due to current material uncertainties. 'We are benefitting from our diverse operations across the UK and Europe which has already helped us offset challenges in some areas with higher activity in other markets,' the company said. 'However, there are challenges to navigate such as obtaining international drivers, general increases in costs and more complex border checks.' At 31 December, Xpediator had net cash of £6.9m. It said it had sufficient headroom to manage anticipated working capital requirements. Cost savings were expected to come from furloughing staff, agreeing temporary pay reductions and reducing other overheads. At 9:43am: (LON:XPD) Xpediator Plc share price was -1.5p at 21p Story provided by StockMarketWire.com

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