News / No Brexit fears for Delamode as profits soar after IPO and acquisitions

first_img“This will be our first full year with the new acquisitions and we remain excited about the projects we have lined up for the months ahead.”Prior to last August’s IPO on London’s Alternative Investment Market (AIM), which raised some £5m ($6.75m), Xpediator made two significant acquisitions: Lithuania-based e-commerce delivery provider PirkAnglijoje, in February 2017; and specialist fashion processor and distributor EMT, the following month.IPO funds allowed the company to “continue to integrate well-established operators” and it acquired UK-based firms Banfleet Forwarding and Regional Express in November.Mr Blythe added: “We want to target more in the way of e-commerce and fulfilment acquisitions, but these need to be debt-free and well-established. We are also eyeing more expertise in air, sea, and warehousing with an view to becoming a one-stop shop, including delivery to end users.”Forwarding, the largest of Delamode’s three divisions, brought in £93.3m over the 12-month period, up from £58.9m a year before, with operating profits up from £1.6m to £2.4m.The Baltic markets – where Delamode boasts strong business – brought the biggest year-on-year improvements, driven by general increased demand and new client wins.“Going forward, we are considering branching out into markets including America, the Far East, and India,” said Mr Blythe. “We are also looking at Iran; this, of course, depends on the sanctions situation, but historically the Iranian market has been a good one for freight and could tie into our Bulgarian office nicely.”Logistics and Warehousing revenues jumped 79% to £18.4m, bringing in just under £1m in operating profits. In March last year, it opened a new facility in Bucharest to accommodate increasing warehouse activity and a growing client base in Romania, with approval for a further site coming late last year.Transport Services witnessed the lowest increase in operating profits – but still double-digit – at 11%, to £2m, on the back of a 31% uptick in revenues to £4.6m.“Our business predominantly still comes from EU road freight operations and, despite being a UK-based company, rather than Brexiting we will continue to focus on this market,” said Mr Blythe.“Of course, we recognise there is a continental driver shortage, but we believe we have built up a strong database to deflect any problems.“We have toyed with the idea of getting our own vehicles, but with 1,700 operators offering us access to some 12,000 trucks it doesn’t seem necessary.” Xpediator Group has seen a surge in revenues and pre-tax profits following a slew of acquisitions and a public listing – and there are further buys on the horizon.The group, which uses the name Delamode for its freight forwarding, warehouse and logistics arm, pulled in revenue of £116.3m, up 60% year on year, resulting in pre-tax profit growth of 65% (to £2.5m) for the year ending March.Chief executive Stephen Blythe told The Loadstar he was “very positive” about the direction the company was heading.“We like hitting our targets and believe we are on course for more of the same this year,” he said. By Alexander Whiteman 15/05/2018last_img read more

Statement by Acting Defense Secretary Christopher Miller on Force Levels in Iraq

first_imgStatement by Acting Defense Secretary Christopher Miller on Force Levels in Iraq U.S. Department of Defense“Today, the United States has reduced the force levels in Iraq to 2,500 as directed by President Trump, and as I announced on November 17, 2020.The drawdown of U.S.force levels in Iraq is reflective of the increased capabilities of the Iraqi Security Forces.We have long anticipated that the force level required to support Iraq’s fight against ISIS would decrease as Iraq’s capability to manage the threat from ISIS improves.Our ability to reduce force levels is evidence of real progress.This force reduction is consistent with Operation Inherent Resolve’s (OIR) transition from major combat operations and does not equate to a change in U.S.policy.U.S.and Coalition forces remain in Iraq to ensure the enduring defeat of ISIS.The Government of Iraq and the U.S.Government agree that ISIS remains a threat and that a U.S.and Coalition presence remains vital.We will continue to have a counterterrorism platform in Iraq to support partner forces with airpower and intelligence.Most operations in Iraq were already being conducted by our Iraqi partners, enabled by U.S.and Coalition forces.We can continue to provide this support to our Iraqi partners at the reduced U.S.force level.The Iraqi people desire a secure, stable, and prosperous Iraq, able to defend itself against violent extremist groups and against those who would undermine Iraq’s security.We are committed to supporting our Iraqi partners in their efforts to achieve those objectives.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:defeat, extremist, Force, Government, intelligence, Iraq, ISIS, operation, Pentagon, President, Secretary, security, Trump, United Stateslast_img read more