DX: on track to meet market forecasts
DX, a provider of delivery solutions including parcel freight, secure, courier and logistics services, has today reported encouraging trading in the first half of its current financial year ending 30 June 2020 in a trading update.
The results for the six months to 31 December 2019 are expected to show a significant improvement over the same period last year, with DX’s performance benefiting from new business wins and improved levels of customer service.
The results were largely driven by DX Freight, which has made significant strides since the Group’s turnaround began in March 2018.
As part of DX’s £10 million investment programme over this financial year and the next, a new depot was opened at Ipswich in the half, and new mechanisation is being installed at DX’s central hub in Willenhall. DX plans to continue this progress by opening more new depots in the near future, which will further improve capacity and productivity in the division.
DX Express also saw the completion of a pilot of its new handheld devices. The rollout of these across all of DX’s service centres has begun, and is expected to be completed for April 2020.
Looking ahead, DX expects further progress to be made in the second half of its financial year, which is historically the Group’s stronger trading period. DX’s Board has stated that it believes the Company is on track to achieve its market forecasts for the current financial year.
Lloyd Dunn, CEO, said: “DX has continued to make good progress over the last six months, focussing on improving our service levels and operational capabilities, and I’m pleased that the hard work is being reflected in our performance. We are on track to meet market forecasts for the year and continue improving the business.”