DX is to invest £4 million over the next six months, completing a £10 million investment programme it started in 2019. The programme has focused on improving IT systems, expanding and upgrading the group’s networks and further sortation mechanisation at its hubs and depots. £2.7 million was invested in the first half of the financial year.
At its interim results DX revealed today that sales had risen 7% in the 27 weeks to January 2021 with an adjusted profit before tax of £3.8 million for the half year, up from last year’s £1.7 million loss.
DX has seen particularly strong growth in its DX Freight division, which specialises in the delivery of irregular dimension and weight items. Here revenue rose by 19% to £103.4 million. Three new depots opened in the first half, in Westbury, Oxford and Burnley and a further two will open later this year. There are also major improvements planned for the company’s sites at Glasgow and Hoddesdon.
“Our focus is now on rebuilding profitability, having returned DX to profit in the last financial year,” said Lloyd Dunn, CEO of DX. “We will achieve this through continued volume and margin growth, driven by high service levels, and efficiency and productivity initiatives. Our £10m capital investment programme, now in its second year, will support our plans across both divisions.”Image credits:
- DX Group