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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Xpediator Plc | XPD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 43.75 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 43.75 | 43.75 |
| Industry Sector |
|---|
| INDUSTRIAL TRANSPORTATION |
| Top Posts |
|---|
Posted at 10/4/2023 18:29 by arctic1854 I've never previously posted on here, but feel inclined to comment on the XPD offer. Everybody seems heated about 44p, and rightly so. It does seem to undervalue the company I don't know, maybe by half. It is very odd that such a lowball offer would have the directors support. You then have to recognise that there are two sides to every story. Maybe just maybe this is a fair offer and they know something that we the small investors do not know. Were XPD a FTSE 100 company there would be ructions, but it's not. The space they occupy does not have the same expectation of reporting or accountancy The old boss would probably know this, and priced this offer accordingly. The directors may have been offered some dodgy inducement, who can say. The options for us could be to take our concerns to the financial conduct guys. We wouldn't win any vote. But really, what would be the point. Interminable delays at the cost meanwhile of any decent share price, to eventually get nowhere. It seems to me that the best course of action would be to put this one down to experience, and move on using the money on something better. Should anyone be curious I have an average purchase price of 42.6p. So yes I would be in profit, but barely. Hardly worth the bother. Regards and GLA. |
Posted at 09/1/2023 18:31 by svend Let's hope another suitor gets wind of this opportunity and lets the bidding for the company commence surely the current board can find other prime investors in Europe as well? |
Posted at 03/10/2022 17:15 by gleach23 Hi svend2...yup, obviously disappointing news re profit, debt and dividend. I got out of what I could between 28p and 32p on the morning of results and am carrying the remaining loss for the moment. I have averaged down around 20-22p in the hope of a bounce as I think they've fallen too far.At the IMC meeting I was one of the investors who asked what full year management expectations were as they commented in the results "Good start to the traditionally stronger second half of the year and on track to meet full year management expectations." The answer was £9m PBT which will be some going from £0.2m at the half way stage. That said, they made just under £7m in H2 last year so if things are looking stronger and they can implement fixes that affected UK in H1, then perhaps they can get close. After the meeting I thought I should have asked them if, given they state they're on track to hit full year and we're now at the end of Q3, they planned to issue a Q3 Trading Update. It would be reassuring for the market if they were able to issue a positive update. I tried to get the question in via IMC after the event. If I don't hear back I'll write to XPD direct. Given the debt situation though, when we were told working capital was going to unwind this year, I'm less confident in the management, albeit there have been lots of changes. |
Posted at 04/2/2022 09:49 by gleach23 It's been a few days since this article has been in the public domain so this week's ST write-up for the record -"On the hunt for value The spike in share price volatility has been a feature of financial markets since the start of this year, and no more so that in my small-cap hunting ground. However, investors have been indiscriminately selling off shares even when the fundamental case for investing is sound, and valuations are attractive. A good example is Braintree-based international freight management services group Xpediator (XPD: 56p). Having initiated coverage at 45p (Alpha Report: 'Profit from a Brexit winner’, 19 February 2021), and seen the share price almost hit my upgraded 85p target last summer, I feel that the subsequent de-rating represents a repeat buying opportunity. A modest 2022 enterprise valuation of 5.6 times cash profit (28 per cent discount to peers), price/earnings (PE) ratio of 12.5 (14.5 for peers) and 3 per cent prospective dividend yield (2.7 per cent) shout value. Moreover, the board has just announced that it will comfortably exceed its 2021 profit guidance, having already raised pre-tax profit guidance by more than 10 per cent to £8.5mn last summer. Zeus Capital now expects annual profit of £8.75mn on a third higher revenue of £298mn. On this basis, expect 14 per cent higher EPS of 4.45p and a 11 per cent hike in the payout to 1.7p a share. Xpediator’s sound fundamentals - 2022 free cash flow of £10mn to wipe out net debt and provide additional funds for acquisitions - Freight forwarding volumes benefiting from strong performance from Balkan countries - Romanian palletised freight distribution network boosts warehousing profits Operating from 38 offices in the UK and nine central and eastern European (CEE) countries, Xpediator offers more than 14,000 clients integrated freight management within the supply chain logistics and fulfilment sector in three main areas: freight forwarding, logistics and warehousing, and transport services Strong increases in freight forwarding revenues (around 80 per cent of group revenue and 60 per cent of operating profit) has been driven primarily by CEE markets, higher sea freight volumes and an uplift from UK customs clearance work post Brexit. Lithuania and Bulgaria were significant contributors. Xpediator’s Pall-Ex (Romania) franchise, a fast-growing palletised freight distribution network offering 24-hour delivery, contributed to double-digit growth in both forecast revenue and operating profit from the group’s logistics and warehousing division (17 per cent of group revenue and 22 per cent of operating profit). It’s worth flagging up that the benefits of the integration and additional space from Xpediator’s newly constructed 200,000 sq ft facility at Southampton are expected to be realised in 2022. Despite the reduction in road transportation due to the pandemic, increased freight movement and expansion into the Balkans has helped drive a recovery in Xpediator’s Affinity brand. This business provides bundled fuel and toll cards and transport services (ferry bookings, insurances and VAT refunds) to 2,000 Eastern European hauliers and 14,500 lorries. True, advanced payments to secure key supplier performance and costs associated with a new freight forwarding operating system in the UK resulted in closing net debt of £4.9mn (pre-IFRS16 lease liabilities), or three times the level at the half-year results. However, working capital should ease through this year, so much so that Zeus expect annual free cash flow of £10mn and closing net cash of £1.8mn by the year-end. Reassuringly, a focus of interim chief executive Wim Pauwels is to maximise organic growth potential. He replaced former incumbent Rob Ross last autumn and has been on Xpediator’s board since November 2019, so he knows the business well. Pauwels has the requisite industry experience, having previously been chief regional officer for Yusen Logistics Europe (annual turnover of €1bn). The directors highlight “several acquisition targets” which would materially increase the activity and capability of the group, too. Buy." |
Posted at 12/1/2022 13:59 by gleach23 Hi svend2. I missed your post from 31 Dec - apologies for that but thanks anyway.The underlying spread often isn't as bad as the market spread would suggest which is why I like to do dummy quotes for this share as it gives a much clearer picture. These quotes have indicated for a couple of weeks now that available stock has been scarce. The 15k @ 50.5p late reported trade this morning would support this view as the market quote on the Offer at the time was 49p. Historically there looks to have been a year end trading update in Feb although last year it was 29 Jan. I have written to Investor Relations to see if they can shed more light on this and will let you know what they say. |
Posted at 15/11/2021 18:15 by researchguru1 By way of a reminder...INVESTORS’ CHRONICLE (Simon Thompson, 13-09-21) The Braintree-based, international freight management services group, Xpediator (XPD: 67p}, raised full-year pre-tax profit guidance by more than 10% to £8.5m. The earnings risk is still skewed to the upside as the directors only need to repeat last year’s second half performance to hit forecasts. In the first half, Xpediator’s freight forwarding operating profit (pre-central overheads) surged 54% to £4.1m on 28% higher revenue of £101m buoyed by more mature businesses in Lithuania and Bulgaria, higher sea rates (which are passed on in full to customers), and extra UK customer clearance work for clients post Brexit. The group also benefited from £0.4m higher operating profit contribution from its Affinity brand which provides bundled fuel and toll cards and transport services (ferry bookings, insurances and VAT refunds) to 2,000 Eastern European hauliers and 14,500 lorries. There was good news from Xpediator’s Pall-Ex (Romania) franchise, a fast-growing palletised freight distribution network offering 24-hour delivery, which is moving 78,000 pallets of freight each month, up from 67,000 in the first half of 2020. Warehousing activity in Romania is robust, too, operating profits from that business rose by 60% and could hit £0.6m for the full-year. Admittedly, start-up costs for Xpediator’s new 200,000 sq ft facility at Southampton proved a drag and meant that operating profit from logistics and warehousing activities declined by a third overall to £0.4m, but the pipeline is strong and the seasonality of the business supports a second half rebound. Importantly, the first half working capital build – net cash of £6.7m reversed to net debt of £1.6m – is unwinding. The negative movement reflected higher advance supplier payments to secure drivers and lorries, increased freight rates, delays in client payments linked to acceptance of Brexit related charges, and a change in operational system within UK freight forwarding finance. Cenkos Securities pencils in year-end net cash of £3m. I initiated coverage at 45p (Alpha Report: Profit from a Brexit winner’, 19 February 2021), and the share price almost achieved my 85p target after the directors raised guidance 11 days after my last update (‘Primed for a major earnings beat’, 14 June 2021). The pull-back since July is overdone. Priced on 10 times operating profit estimates to enterprise valuation, representing a 37% discount to sector peers, the shares rate a BUY. No change in the operating environment since that update 8 weeks ago! And currently trading at a 51% discount to sector peers. An absolute steal! AIMHO. |
Posted at 26/10/2021 09:14 by svend2 gleach23 - thanks for the heads up I agree would think a trading update would be welcomed especially since they took on debt in the last quarter in order to make freight prepayments which may also have made some investors uneasy. |
Posted at 25/10/2021 21:13 by gleach23 Given the ongoing recent momentum in the business as confirmed in the Interims only just over a month ago..."As communicated in the trading update released on 25 June 2021, we believe the Group, which traditionally has earnings weighted to the second half of the year, is well placed to deliver full year adjusted profit before tax in excess of GBP8.5 million." ...I'd imagine they'd feel obliged to update the market to either reassure investors or confirm a material change in expectations for H2 as the share price is currently hinting at. By the way svend2, I wouldn't take too much notice of the closing price which was distorted by a UT trade. I would expect it to open @ 51-53 in the morning unless there is some news. That said, there was a sizeable buy of 38k just before the close so hopefully that'll help underpin support at this level. |
Posted at 13/9/2021 20:19 by sev22 Just to let everyone know that a recording of the presentation: XPEDIATOR PLC - Interim Results for the six months ended 30 June 2021, along with responses to questions that were answered by the company is now available for review in the meeting archive on the Investor Meet Company platform.Login to view the recording and Q&A (free access via registration). Should you have any questions, contact investorhelp@investo |
Posted at 13/9/2021 19:11 by sev22 Tipped again by Simon Thompson in his Small Companies column (Investors Chronicle) tonight:On course for bumper profit growth. Braintree-based international freight management services group is delivering strong organic growth from freight forwarding and its palet businesses, and looks set to exceed full-year profit estimates. First half adjusted pre-tax profit up 74 per cent to £3.6m on 27 per cent higher revenue of £126.6m. Freight forwarding key driver of growth. Annual pre-tax profits expected to exceed £8.5m, up from £7.2m in 2020. In late June, Braintree-based international freight management services group Xpediator (XPD: 67p) raised full-year pre-tax profit guidance by more than 10 per cent to £8.5m. The earnings risk is still skewed to the upside as the directors only need to repeat last year’s second half performance to hit forecasts. In the first half, Xpediator’s freight forwarding operating profit (pre-central overheads) surged 54 per cent to £4.1m on 28 per cent higher revenue of £101m buoyed by more mature businesses in Lithuania and Bulgaria, higher sea rates (which are passed on in full to customers), and extra UK customer clearance work for clients post Brexit. The group also benefited from £0.4m higher operating profit contribution from its Affinity brand which provides bundled fuel and toll cards and transport services (ferry bookings, insurances and VAT refunds) to 2,000 Eastern European hauliers and 14,500 lorries. There was good news from Xpediator’s Pall-Ex (Romania) franchise, a fast-growing palletised freight distribution network offering 24-hour delivery, which is moving 78,000 pallets of freight each month, up from 67,000 in the first half of 2020. Warehousing activity in Romania is robust, too, operating profits from that business rose by 60 per cent and could hit £0.6m for the full-year. Admittedly, start-up costs for Xpediator’s new 200,000 sq ft facility at Southampton proved a drag and meant that operating profit from logistics and warehousing activities declined by a third overall to £0.4m, but the pipeline is strong and the seasonality of the business supports a second half rebound. Importantly, the first half working capital build – net cash of £6.7m reversed to net debt of £1.6m – is unwinding. The negative movement reflected higher advance supplier payments to secure drivers and lorries, increased freight rates, delays in client payments linked to acceptance of Brexit related charges, and a change in operational system within UK freight forwarding finance. Cenkos Securities pencils in year-end net cash of £3m. I initiated coverage at 45p (Alpha Report: Profit from a Brexit winner’, 19 February 2021), and the share price almost achieved my 85p target after the directors raised guidance 11 days after my last update (‘Primed for a major earnings beat’, 14 June 2021). The pull-back since July is overdone. Priced on 10 times operating profit estimates to enterprise valuation, representing a 37 per cent discount to sector peers, the shares rate a buy. |
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