GXO Logistics UK saw its pre-tax profit surge by almost a quarter in 2024, thanks to strong organic growth, its “robust” open book process and new business wins, according to its recent financial results.
The company also revealed that it expects revenue to grow by another 4% this year, judging by the group’s performance so far, and the start of a major NHS contract in the second half of the year.
GXO Logistics UK specialises in warehousing and distribution, omni-channel fulfilment, cold chain distribution, reverse logistics, surge management and other inventory management solutions.
In its latest annual results for the year to 31 December 2024 the group saw revenue surge by £213.4m, from £1.8bn in 2023 to £2bn in 2024. Pre-tax profit rose by almost 25% to £45.2m, up from £36.3m in 2023.
In its business review to the results GXO said its 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 2025 and beyond.
“The latest forecasts and scenarios indicate further growth of the business in terms of turnover and EBITDA. The directors expect an increase of 4% in turnover in 2025 in comparison with the previous year.
“These positive trends are reflected in the actual results for the first half of the year 2025, which show a favourable performance in comparison to the first half of 2024 mainly due to robustness of the open book customer base.”
It added that the second half of 2025 is expected to grow at a faster rate due to the start of a new contract win with the NHS.
