Unstable exchange rates knock XPO Logistics’ UK growth


 

Poor exchange rates negated turnover growth in the UK division of XPO Logistics, according to the group’s 2016 figures. The former Norbert Dentressengle’s UK operation recorded turnover of €1.53m (£1.29m); a 1.7% drop compared to 2015’s €1.55m. However the group said that turnover in the UK had actually grown, and said at a constant exchange rate its turnover would be up 11%. Reporting to investors in the US, it noted that organic growth in XPO’s Logistics division had been offset […]