DX group annual revenue up 11pc
Parcels delivery and courier group DX says its annual turnover is expected to be 11 per cent ahead of last year at around £425 million.
The business provides a range of delivery solutions, including parcel freight, secure courier and logistics services and has sites in Willenhall and a DX Courier base in Tipton.
Trading for its year to July 2 will be significantly ahead of management targets after a strong performance in the second half of the year, especially since Easter.
DX Freight has been a key driver, with revenue up 15 per cent year-on-year, and DX Express revenue grew as expected by seven per cent.
The easing of supply chain issues has also helped the improved performance.
The group expects to deliver a further improved performance in the new financial year.
Three new depots were opened in the half as DX continues its network expansion plans, with another three due to open in the next three months as part of a plan to open at least 12 new sites by the end of June 2024.
A programme of major upgrades to 12 existing sites is also to start.
The DX board is progressing with a review of the group’s capital allocation policy, including dividend policy and share buy-backs.
