Greenwich, Connecticut, USA: Logistics giant GXO, which has multiple supermarket contracts in the UK, has reported a turnover of $9.8bn in 2023 – up from $9bn in 2022. Operating income jumped from $242m in 2022 to $318m while net income increased to $229m, compared with $197m for 2022.
GXO chief executive Malcolm Wilson, said: “In 2023, GXO delivered strong growth in revenue and net income. We closed a tremendous $1bn of annualized new business wins, with nearly 40% coming from outsourcing as more companies look to GXO to transform their supply chains.”
The company says that the “sales pipeline remains strong” at around $2bn.
GXO has contracts in the UK with a number of supermarkets, including Sainsbury’s, Waitrose, Iceland and the Co-op. Last year GXO highlighted the value of its new Sainsbury’s contract when it posted its second quarter results. And at the end of last year Waitrose extended its contract with GXO.
