4 March 2020 – new warehouse extension

The provider of freight management services across the UK and Central and Eastern Europe has announced that its subsidiary, Import Services, has signed a 20 year lease with Associated British Ports for a new 200,000 sq ft distribution centre at Southampton’s Container Port.  The opening of this new facility will take the company’s UK warehousing capability to approximately 700,000 sq ft.  Associated British Ports has begun development of the new distribution centre and it is expected to complete in the first quarter of 2021.  The shares currently look very attractive and rank as a BUY.