Exel still talks a good success story
Exel’s half-year results indicate the problems of UK logistics companies at present. Its contract logistics business in the UK suffered a 2% increase in revenue to £584m but a profit dip of 8% to just £28.9m. Technology volumes were “very weak” but retail, consumer and healthcare stayed solid.
Exel is doing well overseas but remains weak in Europe, where it made almost no profit at all on static turnover of £163m.
The group is popular with analysts because it is transparent, going global and tells a good story — if a little too slick for some. “There’s a bit of a gap between the hype and reality,” one analyst tells
Still, the analyst’s view was summed up by WestLB Panmure’s John Lawson:
“Exel is beating the likes of Deutsche Post hands down.”
Exel runs a Mor poll on how it is perceived in the industry, which this year shows big gains in the perception of the quality of staff and brand awareness, which were already well above the industry average.
