GXO Logistics reports surge in revenues as growth drive continues

GXO Logistics UK said strong organic growth and new business wins helped it to increase revenues by more than a quarter last year.

Turnover in the year ending 31 December was £1.5bn, compared to £1.2bn in 2020.

Pre-tax profit increased by 40.1% to £65.5m.

The company said that despite the challenges brought about by the pandemic, its performance surpassed that of many of its competitors and the business remained robust and resilient.

“The directors are confident that wins already secured and the strength of the current pipeline puts the company in a strong position to deliver organic growth in 2022 and beyond,” it added in a statement signed off by the board.

In August 2021, GXO was formed after XPO completed a spin-off of its logistics division and it is now a standalone publicly trading company.

GXO declined to comment further.