Kinaxia revenues soar but acquisition spree deepens losses to £1.8m


 

Kinaxia’s acquisition of AKW Group and Fresh Freight helped deliver a 48% rise in revenues in 2019, but the group’s continuing acquisition drive and IT investments contributed to a loss of £1.8m in the period. According to the company’s latest annual results for the year to 31 December 2019 the company saw revenue leap to £169.9m (2018: £114.9m). However pre-tax losses increased to £1.8m from £755,540 in the previous year. Kinaxia, which runs a fleet of 845 vehicles, employs over […]